Interim Results November 2021
Sector Overview
Technologies for drilling of oil, gas & geothermal wells
Steering and control:
Equipment such as Rotary Steerable Systems (RSS) to provide directional control to follow the planned well path
Measurement: | Communications: |
Directional and geological | Connecting systems and |
sensors to provide real-time | transmitting information |
downhole Measurement While | to/from downhole and surface |
Drilling (MWD) |
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Product Segments
Specialised technologies for efficient drilling of oil, gas & geothermal wells:
MWD systems:
- Sophisticated sensors and electronics in the hostile down-hole environment.
- MWD equipment supply market is c.$100m annually.
SABER RSS:
- New product development, SABER (Steer At- Bit Enteq Rotary) with game-changing potential for efficient drilling operations.
- Target new technology RSS market is c.$2bn annually.
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Operations Overview
- Technology:
- Core MWD based on Enteq's reliable and industry renowned XXT platform
- SABER engineering and development team (UK based)
- Distribution agreements with selected leading technology suppliers to enhance Enteq's product range
- Manufacturing:
- In-househigh-temperature electronics manufacturing and operations facility in Houston
- SABER technology, manufacturing and assembly facility in progress near Cheltenham, UK
- Sales:
- Sales team working alongside international sales representatives
- Technology partnerships to augment full equipment package offering
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SABER Technology Development
SABER is an evolution of the proof of concept, tested by Shell and licensed to Enteq, representing a prospective step-change in directional drilling technology. Enteq has re- engineered the concept resulting in a mechanically simple, compact design.
- Testing and Field Trials:
- Field trials have affirmed the ability of the SABER control system to function in a downhole environment
- Testing has reconfirmed the ability to generate sufficient side forces for steering
- International field trials ongoing prior to moving to North America
- Commercialisation
- Rental fleet readily scalable
- Commercial returns expected during 2022
- Investment
- Committed total investment to September 2021 of $2.3m ($1.4m to March 2021)
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Enteq Upstream plc published this content on 18 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 November 2021 11:32:06 UTC.