Enteq Technologies PLC SABER Tool Update
February 15 2023 - 2:00AM
RNS Non-Regulatory
TIDMNTQ
Enteq Technologies PLC
15 February 2023
Enteq Technologies plc
("Enteq" or the "Company")
SABER Tool Update
Enteq Technologies plc (AIM: NTQ.L) the energy services
technology and equipment supplier, is pleased to announce it has
completed the preliminary live drilling testing for SABER in a hard
rock environment at a test-site in Norway.
The tool drilled over 100m through granite, demonstrating
functionality of key elements of the system and confirming that the
critical flow diverter can operate effectively to generate
differential pressure and maintain a constant steering angle.
Further valuable feedback on the tool performance was gained from
this testing programme identifying as expected, some minor
engineering changes for implementation prior to
commercialisation.
This encouraging performance has given the green light to
proceed to additional directional drilling testing which is
scheduled in North America and then customer field trials. A
trading statement and further update is expected after the
financial year end, in early April.
Enteq is also pleased to announce that it has been short-listed
as a finalist for the 2023 Offshore Achievement Awards, Emerging
Technology category, alongside other leading innovations and
companies working across oil and gas, renewables and other offshore
industries.
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, Fergus Sullivan (Corporate Finance)
Andrew Burdis, Barney Hayward (ECM)
About SABER
SABER (Steer-At-Bit Enteq Rotary Tool) is an evolution of
traditional rotary steerable systems (RSS). SABER directional
drilling technology is based on intellectual property licenced from
Shell and subsequent Enteq developments. SABER will widen Enteq's
addressable market, accessing the large rotary steerable drilling
market, where the SABER tool can offer a differentiated and
cost-effective alternative to the traditional technology . SABER
utilises internal hydraulic pressure differentials to create side
force at the drill bit for geo-steering, rather than pushing
against the borehole wall (pads and pistons) to change direction.
The advantage of internalising the steering mechanism is expected
increased reliability and reduced downtime. The Company is bringing
SABER to commercialisation. For additional information please visit
www.enteq.com/products/rotary-steerable-system-srss/
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