Enteq Technologies PLC SABER Tool -- Field Trial Update
08 November 2021 - 6:00PM
RNS Non-Regulatory
TIDMNTQ
Enteq Technologies PLC
08 November 2021
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
www.enteq.com
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)
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