Enteq Technologies plc (LON:NTQ), the energy services technology and equipment supplier has provided an update following downhole drilling testing in North America for this game-changing alternative to traditional Rotary Steerable Systems, the SABER Tool.
The SABER system met test objectives during extensive drilling, successfully generating steering forces to change the direction of the well at angles typically expected by the industry for many applications. Delivery of this performance confirms in the Directors’ belief the technical ability of the SABER system to provide a competitive commercial solution. An independent survey was taken to validate the changes in trajectory.
Successful completion of this testing in an operational test environment progresses the technology readiness level of SABER. Enteq will continue working with strategic regional industry partners to operate the SABER system, intending to conduct customer trials in a commercial environment, whilst continuing to engineer further performance enhancements identified during testing.
SABER, Enteq’s novel steering solution has the potential to disrupt the Rotary Steerable Systems market (greater than $2 bn p.a.*) within the drilling industry with the potential for new levels of performance, both commercial and technical, for operators and service companies. With its ability to operate in high pressure and high temperature environment, SABER is suitable for use in geothermal drilling and methane capture, positioning it to support the energy transition. Equally, it is intended that SABER will offer significant advantages to oil and gas operators, reducing operating costs and improving overall cost of ownership.
Andrew Law, CEO of Enteq, reflected on the testing results:
“We’re delighted with the results of the SABER drilling, demonstrating that the SABER concept can steer effectively in an operational environment. Enteq are proud of the team of engineers who have worked persistently to deliver this success, building on the original concept developed by Shell.
We look forward to working alongside selected customers and industry partners to bring this technology to market and to deliver a positive and disruptive impact.”
Martin Perry, Chairman of Enteq Technologies, said:
“As an independent and agile company, we are positioned to play a disruptive role in the downhole drilling industry. Throughout this project we could see the potential of this technology to make a positive change to the sector. There are exciting times lying ahead for Enteq with the game-changing SABER Tool’s commercialisation.”
*Management team’s estimate of annual addressable market revenue size
