WEYBRIDGE, UK – Plexus Holdings PLC has entered a license agreement with Cameron International for the POS-GRIP friction-grip method of wellhead engineering.
This gives Cameron a non-exclusive license to use Plexus’ POS-GRIP and HG metal-to-metal seal technique for development of oil and gas surface wellheads.
Cameron will pay the company a royalty based on the number of wellheads sold, leased, rented or otherwise annually, in the range 3-6%/yr, up to the end of the 2029 calendar year.
If Cameron does not reach the minimum performance requirement, it can elect to pay a top-up royalty fee. In addition, it will pay Plexus $500,000 in exchange for the non-exclusive license rights.
As Plexus points out, leak-proof performance, particularly for natural gas, is important for wellheads throughout the life of a field, and in cases where wellheads have historically required maintenance to maintain integrity.
POS-GRIP wellheads employ integral metal seals, which are externally pre-loaded: the method of engineering is achieved with a rigid assembly, with critical actuation forces controlled, monitored and verified, to simultaneously energize multiple seal bumps that are said to maintain gas-tight integrity throughout well life.
According to the company, leak-proof and maintenance-free performance are particularly relevant to investors and the environmental lobby as the industry transitions to net-zero emissions.
The wellhead products will be marketed under the Cameron trademark, but Plexus will also continue to offer its own proprietary wellhead technology.