Orcoda Wellcamp Upscope, Quarter Revenue Circa $2.35m

Orcoda (ASX:ODA) signed variation addendums that add incremental worker volumes to its three-year Wagner/Wellcamp agreement, and used the release to disclose what the contract has billed in its first quarter.

The addendums were signed by subsidiary Orcoda Resource Logistics Pty Ltd with Wellcamp Accommodation Pty Ltd, an affiliated company of Wagner Corporation. The current arrangements allow Orcoda to mobilise up to 750 workers per day within the Wellcamp regional accommodation facility, and Wagner and Orcoda are working to increase utilisation up to the facility's current capacity of 1,000 workers per day. Billings were $1.15 million for the July and August 2026 start-up phase and circa $1.2 million for September 2026, a total of circa $2.35 million of revenue from the contract for the quarter ending 30 September 2026. The company puts additional revenue from the extra scope at circa $500k in September 2026. Contract duration is unchanged at three years, and the release lists no conditions precedent.

The company says the additional revenue may rise or fall depending on monthly billing days and project phase. The release does not give a total contract value or say when utilisation might reach 1,000 workers per day.