Enteq Upstream (GB:NTQ) has released an update.
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Enteq Technologies PLC has successfully completed field testing for its innovative SABER tool and is now in customer trials, positioning it for potential commercialization within the directional drilling market. The company’s strategic shift, marked by the sale of its XXT assets for $3.1 million, has allowed it to focus on SABER’s development, with expectations of strong market demand and partnerships to enhance deployment. Despite a decrease in cash reserves from the previous year, Enteq is optimistic about capturing a share of the multi-billion dollar directional drilling industry through this new technology.
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