Last checked at 5 Dec 2018 07:00
5 December 2018
Enteq Upstream plc
("Enteq" or the "Company")
Filing of new patent
Enteq, the oilfield services technology and equipment supplier, announces the filing of a new UK patent application relating to a "real- time" azimuth and inclination measurement tool.
This patent filing is a result of the work done by Enteq's UK based development team that was set up by following the grant obtained from the Technology Strategy Board of Innovate UK, which was announced on 2 May 2017.
The intellectual property and related future product development will broaden the range of Enteq's oil and gas drilling products, as well as having applications in geothermal wells.
Martin Perry, CEO of Enteq Upstream plc, commented:
"The patent application demonstrates Enteq's continued drive to develop new technologies that both broaden the addressable market and offers additional functionality to our current customer base."
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)20 7597 5970
Chris Treneman, Patrick Robb, David Anderson