Enteq Technologies (Enteq), the energy services technology and equipment supplier, announced a 45% increase in revenue in 2022 with entry into new regions and energy transition sectors
Building on it, the SABER Tool (Steer-At-Bit Enteq Rotary Tool), Enteq’s alternative to traditional rotary steerable system (RSS) for directional drilling, has successfully achieved its testing milestones to date.
The SABER tool uses a novel and simple concept of internally directed pressure differentials to steer at the drill bit, removing the need for traditional pistons and pads that are susceptible to rapid wear and reliability issues. It is designed to offer a robust, reliable, simple and cost-effective alternative to current RSS options for use in oil and gas, geothermal and methane capture applications.
Since taking on the development of the tool, from Shell’s initial proof of concept, Enteq has continued to focus on development and testing of the tool, significantly simplifying the design and offering the industry a solution that has a wider operational range and can be seamlessly integrated with customers’ equipment. The commercial adaptation of the tool utilises proven industry standard or off-the-shelf components to minimise technology development risk.
The global drilling market is currently estimated to be worth at least US$11bn. Enteq’s chief executive officer, Andrew Law, said, “We know that the drilling market, and in particular the RSS market, is strong. We’re confident this is set to continue into the future, and we’re excited by the potential to use our technology to support energy transition applications. When we set out to commercialise SABER, we wanted to ensure that we were creating an RSS that would improve the efficiency of operations now and well into the future. With SABER, we’re confident that we’re able to do that and we’re looking forward to providing a solution that customers can feel confident in investing in.
“When you look at the oil and gas industry, for example, there are only a handful of businesses supplying the global market in this sector and we know that there is demand there for alternative, innovative technologies.”
SABER was initially launched in March 2021 and has since undergone further testing and enhancements.
Published at Mon, 01 Aug 2022 04:00:46 -0700