SABER Tool - Field Trial Update
Enteq Technologies plc
("Enteq", the "Company" or the "Group")
SABER Tool - Field Trial Update
Enteq Technologies plc (AIM: NTQ.L), the energy services technology and equipment supplier, is pleased to provide an update on the field trials and ongoing development of its disruptive alternative to traditional rotary steerable systems (RSS); the SABER (Steer-At-Bit Enteq Rotary) system.
The SABER system is an evolution of a unique concept originally developed by Shell, subsequently licenced to Enteq. Field trials conducted by Shell proved the ability to steer and build significant angle. Following re-engineering by Enteq, the SABER system has proven successful in reaching the development programme milestones and validating all expectations to date.
Field trials
During the initial phase of downhole testing in a live drilling environment, SABER's control system has successfully demonstrated the ability to operate correctly, meeting the test objectives. The downhole test programme will continue, in-line with the technology development plan.
System testing
The SABER system performed well during system testing, delivering an operating range better than predicted, increasing the ability to control. In addition, testing has been completed which confirms that the SABER can generate the required at-bit steering forces.
Commercialisation
Upon commercialisation, SABER will be marketed in selected operating regions, with the scope to expand the product range with additional system sizes. Successful development of SABER will greatly expand Enteq's addressable market.
ADIPEC exhibition - Abu Dhabi
SABER will be exhibited by Enteq, together with the Group's MWD and LWD technologies, at the ADIPEC trade exhibition in Abu Dhabi which runs from 15 to 18 November 2021.
For further information, please contact:
Enteq Technologies plc +44 (0) 20 8087 2202
Andrew Law, Chief Executive Officer
David Steel, Chief Financial Officer
finnCap Ltd (NOMAD and Broker) +44 (0) 20 7220 0500
Ed Frisby, Emily Watts, Tim Harper (Corporate Finance)
Andrew Burdis, Barney Hayward (ECM)
Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 17 minutes ago Helios Underwriting
- 38 minutes ago SSE
- 1 hour ago Judges Scientific
- 1 hour ago AB Dynamics
- 1 hour ago Henry Boot