Launch of a new Directional Drilling System

RNS Number : 7719Q

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     [phone]

Martin Perry, Chief Executive Officer

Andrew Law, Commercial Director

David Steel, Finance Director

Investec Bank plc (NOMAD and Broker)    [phone]

Chris Sim, Patrick Robb, David Anderson

 

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