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SINGAPORE - OMS Energy Technologies Inc. (NASDAQ:OMSE), a manufacturer of surface wellhead systems and oil country tubular goods for the oil and gas industry, has secured new orders in Angola and Thailand as it expands its international presence, according to a press release statement issued Monday. The company, currently valued at $288 million, maintains a "GREAT" financial health rating according to InvestingPro analysis, with several positive indicators including strong cash management and profitability metrics.
The company recently entered the Angola market through a letter of award for supplying surface wellhead systems to Grupo Simples Oil in the Onshore Kwanza Basin Block. In Thailand, PTTEP signed a new three-year agreement with OMS effective July 1, 2025.
OMS, which completed its Nasdaq listing in May 2025, operates 11 manufacturing facilities across six countries including Singapore, Malaysia, Brunei, Saudi Arabia, Thailand, and Indonesia.
The company reported a $1.1 million investment in Additive Manufacturing research for developing a metallic seal for high-pressure-high temperature gate valves. OMS has completed Phase 1 of this project, which covered material selection, manufacturing methodology and stress analysis.
In early 2024, OMS signed a 10-year supply agreement with Saudi Aramco, which the company estimates could generate between $120 million and $200 million annually. Based on InvestingPro’s Fair Value analysis, the stock currently trades near its fair value, with additional metrics and insights available to subscribers.
The firm maintains ISO 9001 and API Q1 quality management system certifications for all manufacturing sites, along with ISO 45001 and ISO 14001 certifications for occupational health, safety, and environmental management systems.
OMS is currently exploring growth opportunities through acquisitions, joint ventures and strategic alliances while continuing research partnerships with Singapore’s Agency for Science, Technology and Research and the Singapore Institute of Manufacturing and Technology.
In other recent news, OMS Energy Technologies Inc. has made its debut on the Nasdaq Capital Market with an initial public offering (IPO) priced at $9.00 per share. The company offered 3,703,704 ordinary shares, aiming to raise approximately $33.3 million, excluding underwriting discounts and related expenses. Despite the set IPO price, shares began trading at $8 each. Roth Capital Partners served as the sole manager for the offering, while Joseph Gunnar & Co., LLC provided financial advisory services. Additionally, OMS Energy has granted a 45-day option to underwriters to purchase up to 555,555 more shares at the IPO price, minus underwriting discounts and commissions. This move follows the company’s registration statement being declared effective by the U.S. Securities and Exchange Commission. The IPO is expected to provide OMS with capital to support its growth and strengthen its market position.
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