Enteq Upstream PLC Launch of a new Directional Drilling System
02 March 2021 - 6:00PM
RNS Non-Regulatory
TIDMNTQ
Enteq Upstream PLC
02 March 2021
2 March 2021
Enteq Upstream plc
("Enteq" or the "Company")
Launch of a new Directional Drilling System - the SABER Tool
Enteq, the energy technology company, is pleased to announce the
launch of its disruptive alternative to traditional rotary
steerable systems (RSS) ; the SABER Tool (Steer-At-Bit Enteq Rotary
Tool). The SABER tool, an evolution of the concept proven and
tested by Shell and then licensed to Enteq, is now ready for next
stage field trials.
The SABER tool uses internally directed pressure differentials
to steer from the drill bit face, delivering true "at-bit"
geosteering. This mechanically simple design also removes the need
for traditional pistons and pads that are susceptible to
reliability issues - an approach which can create a smoother and
more precise wellbore with easy to manage directional control.
SABER will offer a robust, reliable, simple and cost effective
directional drilling alternative to current RSS options.
Enteq licensed the designs and intellectual property from Shell
in September 2019, following successful initial trials, before
assembling a technical team with more than 150 years combined RSS
and directional drilling design experience, mostly based in the
UK.
The global RSS market is estimated at $1.8 bn for 2021 and the
initial version of the SABER tool will be able to compete in
approximately 40% of this market. Source: The Insight Partners
Analysis.
Further information can be obtained from
https://www.enteq.com/products/rotary-steerable-system-srss/
Andrew Law, Enteq's Commercial Director, commented:
"Enteq's independent status, established engineering expertise
and history as a trusted company with reliable downhole products,
make us the ideal candidate to enter and disrupt the RSS space.
With our expert engineering team and access to market, I am
confident that the SABER Tool will be a great success."
Martin Perry, Enteq's CEO, commented:
" The directional drilling market today is dominated by RSS
designs supplied by a small group of companies which have been
largely unchallenged. However, efficiency of directional drilling
is becoming increasingly imperative. It is essential to control
costs, minimise downtime and maximise reliability and drilling
speeds in order to remain competitive and reduce the impact of
drilling. The SABER tool will prove to be a more accurate, agile
and cost-effective alternative to existing RSS offerings. This
product introduction should be a game changer for Enteq in terms of
the market size which will be addressed and through the disruptive
nature of the technology."
For further information, please contact:
Enteq Upstream plc +44 (0)149 461 8739
Martin Perry, Chief Executive Officer
Andrew Law, Commercial Director
David Steel, Finance Director
Investec Bank plc (NOMAD and Broker) +44 (0)207 597 5970
Chris Sim, Patrick Robb, David Anderson
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