Enteq Upstream PLC New technology agreement (1972U)
July 27 2020 - 9:00AM
UK Regulatory
TIDMNTQ
RNS Number : 1972U
Enteq Upstream PLC
27 July 2020
27 July 2020
Enteq Upstream plc
("Enteq" or the "Group")
New technology agreement - high-speed data rate telemetry
system
Enteq, the oilfield services technology and equipment supplier
today announces an agreement to develop and market a high-speed
data rate telemetry system.
High speed data transmission rates from downhole instruments to
surface systems is key to both improving drilling efficiency and
enhancing geosteering operations.
Enteq is pleased to announce that it has signed an agreement
with Black Gold Research ("BGR") to develop such a system, based on
advanced electro-magnetic (EM) principles. BGR is a Polish company
with a worldwide reputation for developing innovative solutions in
the field of electro-magnetics, sensors, measurements and
transmission systems. These systems are proven to operate in high
temperatures, high pressure and high vibration environments.
The co-operation will bring together expertise from both
companies in order to commercialise a current BGR project within
Enteq's proven MWD technology.
Martin Perry, Enteq's CEO, commented:
"The development of this new technology is perfectly aligned
with Enteq's strategy of delivering quality geosteering
technologies. This technology has the potential to address one of
the core needs of independent service companies operating globally.
We look forward to working on this partnership with the team at
Black Gold Research."
For further information, please contact:
Enteq Upstream plc +44 (0)149 461 8739
Martin Perry, Chief Executive Officer
David Steel, Finance Director
Investec Bank plc (NOMAD and Broker) +44 (0)207 597 5970
Chris Treneman, Patrick Robb, David Anderson
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AGRFLFELDLIDFII
(END) Dow Jones Newswires
July 27, 2020 09:00 ET (13:00 GMT)
Enteq Technologies (AQSE:NTQ.GB)
Historical Stock Chart
From Jun 2024 to Jul 2024
Enteq Technologies (AQSE:NTQ.GB)
Historical Stock Chart
From Jul 2023 to Jul 2024