Is OMS Energy (OMSE) One of the Cheap Oil Stocks Under $10 to Buy Now?

OMS Energy Technologies Inc. (NASDAQ:OMSE) is one of the cheap oil stocks under $10 to buy now. On November 26, OMS Energy Technologies Inc. (NASDAQ:OMSE) revealed that its wholly-owned subsidiary, PT OMS Oilfield Services (OMS Indonesia), secured API Spec 11D1 certification from the American Petroleum Institute. The API Spec 11D1 standard outlines requirements for designing, building, testing, and quality-checking packers and bridge plugs used in petroleum and natural gas wells. If certified, it means that a company’s packers and bridge plugs have been proven to withstand extreme pressures and conditions.

OMS Energy (OMSE) Indonesia Unit Secures API Spec 11D1 Certification

According to the announcement, this approval allows OMS Indonesia to fully design, qualify, and produce its own retrievable mechanical and hydraulic packers. This adds to its existing lineup of API-6A-certified surface wellheads and Christmas trees. And these packers can integrate with OMS’s own systems or third-party gear, which the company said will open doors to new contracts in well completion and intervention services.

Management further stated that this certification bolsters OMS Indonesia’s role as a regional leader by enabling in-house development of high-spec components. This milestone, the company noted, supports faster delivery, cost efficiencies, and compliance in Southeast Asia’s growing oilfield market.

OMS Energy Technologies Inc. (NASDAQ:OMSE) is an oilfield equipment and services company. It manufactures and sells specialty connectors, pipes, surface wellheads, and Christmas trees for drilling and production operations.

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Disclosure: None. This article is originally published at Insider Monkey.