(Alliance News) - Enteq Technologies PLC on Wednesday said its Saber drilling tool met test objectives during extensive downhole drilling testing in North America, providing a "game-changing" alternative to traditional rotary steerable systems.
The Ascot, England-based energy services technology and equipment supplier said it successfully generated steering forces to change the direction of the well at angles "typically expected by the industry for many applications".
Enteq said this confirmed the directors' belief in Saber's technical ability to provide a competitive commercial solution, with an independent survey also taken to validate the changes in trajectory.
Enteq will continue working with strategic regional industry partners to operate the Saber system, the company said, intending to conduct customer trials in a "commercial environment", while "continuing to engineer further performance enhancements" identified during testing.
The company said Saber has the potential to disrupt the RSS market within the drilling industry, which it claims is worth more than USD2 billion per year, claiming it can bring about "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," said Eqtec.
"Equally, it is intended that Saber will offer significant advantages to oil and gas operators, reducing operating costs and improving overall cost of ownership."
Chief Executive Officer Andrew Law commented 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 [PLC].
"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."
Chair Martin Perry added: "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."
Shares in Eqtec were down 2.5% to 0.18 pence each in London on Wednesday morning.
By Greg Rosenvinge, Alliance News reporter
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