Share Name Share Symbol Market Type Share ISIN Share Description
Enteq Upstream LSE:NTQ London Ordinary Share GB00B41Q8Q68 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 23.50p 22.00p 25.00p 23.50p 23.50p 23.50p 2,160 07:43:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 3.8 -0.9 -1.6 - 14.53

Enteq Upstream Share Discussion Threads

Showing 701 to 725 of 725 messages
Chat Pages: 29  28  27  26  25  24  23  22  21  20  19  18  Older
DateSubjectAuthorDiscuss
15/12/2017
01:29
Good news for Enteq ! Shale firms pump out an oil surplus Rising output from American shale fields is set to tip the oil market into surplus at the start of next year, according to the latest forecasts from the International Energy Agency. The agency has raised its forecast for total US crude oil to 390,000 barrels a day for this year and 870,000 barrels a day for 2018, resulting in a worldwide surplus of 200,000 barrels a day in the first half of 2018, before reversing later in the year. Article: https://www.thetimes.co.uk/edition/business/shale-firms-pump-out-an-oil-surplus-dn2vcjp67
masurenguy
08/12/2017
08:49
RNS - excellent $500,000 contract win, and in a new geography too. Time for a re-rating here given the £12m cash pile almost equating to the entire £14m m/cap: https://www.investegate.co.uk/enteq-upstream-plc--ntq-/rns/contract-award/201712080831117990Y/ "Contract award Enteq, the oilfield services technology and equipment supplier, announces a contract from a new international customer. On 7 December 2017, Enteq received confirmation and a cash deposit relating to an initial contract valued at $0.5m for operations in Indonesia. This is the first order Enteq has won in this territory. The contract is for using Enteq's core MWD ("measurement whilst drilling") technology in a geothermal application. The order will be delivered to the customer early in 2018. Martin Perry, CEO of Enteq Upstream plc, commented: "Enteq continues to develop new territories and applications for our equipment. This contract award represents the ongoing efforts to broaden the company's market presence."
rivaldo
03/12/2017
20:13
Agreed on that point. As long as OPEC supports ( as I anticipate ) the oil prices in 2018, Enteq should do well next year. Tempted to go overweight here but I need to see that catalyst first. A good, convincing RNS would entice me.
dacian
02/12/2017
17:33
I was quite favourably impressed, but clearly difficult to get a proper read from a single meeting. Someone (CEO or CFO) made a comment, in response to my observation on the share price in relation to cash holdings, that they had attracted some deep value investors for precisely this reason, so I think they are aware of their shareholder base. The other thing that I think is relevant here is the way in which they have reduced cash expenses in order to preserve cash over the downturn. This has included reducing the size of the board (chairman leaving the company and COO leaving the board) and taking shares in lieu of salary (see 16th Dec 2016 rns for example). So their actions to me suggest a sensitivity towards shareholder concerns.
1gw
02/12/2017
09:13
Thank you 1gw, no chance of returning some to shareholders then. What was your gut feeling about the ceo/management (I never met them) , do you think they care about the share price?! do they care about shareholder returns or they're just happy to run the co for a living. That would be my main reluctance in going overweight here. My understanding from their post crisis financial statements is that they'll go for organic and profitable growth this time, I'd much prefer that.
dacian
01/12/2017
20:02
I did ask the CFO if he was comfortable with the capital structure and what scope he thought there might be for buybacks given the cash balance, the "low" shareprice and the apparent recovery. I can't remember the exact answer but safe to say I think that it didn't strike me as too exciting... Originally though they raised money in the 2011 placing with the idea of making acquisitions. So I suspect once they are confident in the sustainability of the recovery they may well revisit the idea of growing by acquisition. I think some of the cash may also "disappear" in the inevitable expansion of working capital as the business grows its top line again.
1gw
01/12/2017
09:00
Nearing of the cost cutting exercise within Enteq coupled with firming fundamentals in US shale will support this story in 2018. Https://oilprice.com/Energy/Crude-Oil/US-Shale-To-Surge-After-OPEC-Extension.html Does anyone know or did anyone ask at the AGM what will they do with the cash once the markets have stabilized? That cash pile could be the key to shareholder returns next year.
dacian
30/11/2017
07:46
Positive scenario developing for NTQ ! "The recovery in oil and gas is in full swing. While benchmark crude oil prices have gone up across the board, Brent is now $63 per barrel, the catalyst for this recovery comes more in the fact that oil producers have done such a good job in bringing costs down. Nowhere is that more starkly noticeable than in offshore, deepwater drilling, where dayrates for state-of-the-art rigs have gone from as high as $700,000 three years ago to just $250,000 or so. As onshore rig counts creep higher, cost inflation is once again becoming a fact of life in select onshore shale plays. With deepwater drilling, however, there are still many rigs 'stacked' in harbors across the world just waiting to come out and get activated, thereby keeping development and operational costs down. For this reason, I've been recommending some of the bigger offshore oil producers, which are often large, integrated companies...............Shell estimates its deepwater projects, on average, have a forward 'break even' price of just $30 a barrel. That means Shell's projects are very competitive with shale drilling projects in the best of locations." https://seekingalpha.com/article/4128650-royal-dutch-shells-deepwater-strength?page=2
masurenguy
22/11/2017
14:01
Well spotted Rivaldo, did you also notice, at the bottom of the page: " Enteq is currently looking for Houston based, smart, motivated engineers to join our support and engineering team".Crude also holding up.
dacian
22/11/2017
13:34
Sounds encouraging.
1gw
22/11/2017
12:14
Things must be looking up - NTQ have issued a November newsletter, with some interesting snippets including just a selection here.... Http://www.enteq.com/images/pdfs/newsletter-email.pdf "The increase in North American activity and international opportunities has necessitated the expansion of our global support team....." "Near Bit Inclination and Azimuthal Gamma. Enteq has partnered with Houston based Well Resolution Technology to give Enteq access to unique directional drilling technologies such as the WRT Near Bit Inclination and Azimuthal Gamma Ray tool......" "Engineering Collaboration Enteq has been awarded a prestigious grant for a joint project with Imperial College, London, and the Chinese University of Petroleum, Beijing....." "MFPWR Resistivity Tool Production models of the RMS Multifrequency Resistivity Tools have now been running for over 6 months in the field with results judged to be fully comparable to those of a major international service company. Inventory levels of all sizes, including a slim 3.5” version, are being increased to meet market demand...."
rivaldo
15/11/2017
18:04
6302 shares traded on results day (according to the current advfn tally). Anyway at least they look like a purchase.
1gw
15/11/2017
11:27
Thanks, Rivaldo. Also thanks to 1gw who provided the agm update, appreciated.
dacian
15/11/2017
11:15
dacian said: "it all comes down to the price of oil" Quite so. I thought this article explained the bull case pretty well today; hxxps://moneyweek.com/how-to-play-oils-stealth-bull-market?utm_campaign=money-morning-newsletter&;utm_medium=email&utm_source=newsletter
boystown
15/11/2017
09:32
Good summary dacian, and completely agreed. It does seem that NTQ has reached a turning point now. NTQ has traded at basically break-even for H1, and it has almost £12m net cash against a £14m m/cap, along with $1.2m surplus receivables over payables, $3.1m of PPE and $3.3m of inventories. They've managed the company's cash and resources superbly during the downturn, so much so that they've still been able to bring along new technologies as follows from today's narrative: "An application for two new patents continues to progress, and the initial build of the prototype technology related to these is in process." The outlook is the rosiest for some time: "Martin Perry, CEO of Enteq Upstream plc, commented: "Enteq has weathered the storm of severely reduced drilling activity globally over the last two years and is now entering a more stable market with a low-cost base, preserved cash balances and a strong technology platform from which to build. Uncertainty does remain and caution will continue to be exercised. However, Enteq has a solid customer base, a proven technology platform and a strong balance sheet, all of which will enable Enteq to take maximum advantage of future growth opportunities. "
rivaldo
15/11/2017
09:05
I think the ceo did a good job in adjusting the size of the co to the current market environment. The current revenues should be seen in that context. A profitable H2 is possible now. They have a good relationship with an established customer base and the key wording for me is this: "Legacy equipment should be retired from the market, leaving room for new equipment sales." this is a step change from 1 year ago when: "Spare equipment capacity in the market will continue to limit demand for Enteq products" But it all comes down to the price of oil which will determine the rig count which in turn will determine the fortunes of this little co. Both OPEC and IEA predict huge US shale growth in the coming years, if that was to happen, little NTQ will be a much bigger business in a couple of years time. I reckon most likely, this is the inflexion point between the past and the future :-)
dacian
15/11/2017
08:00
I think it's lumpy rather than seasonal, particularly in their international business. At the AGM they described the 1H17 number ($0.7m) as the outlier rather than the 2H number ($4.0m). As you say, they've come in at $2.5m for 1HFY18, so about 1/2 way between the two numbers. Their 4 biggest customers in FY17 accounted for 75% of the revenue and I think 2 of these were international.
1gw
15/11/2017
07:26
Revenue in H2 last year was $4m. Revenue in H1 this year was $2.5m. Is this business seasonal or is this a real issue. No mention of it in the verbage.
brugen
15/11/2017
07:19
Yes, very happy with that on a first read-through. Some cautious optimism peeping through I think it would be fair to say.
1gw
15/11/2017
07:17
Good set of interim results. Revenues are well up and close to break-even. https://www.investegate.co.uk/enteq-upstream-plc--ntq-/rns/half-year-report/201711150700045087W/
hugepants
10/11/2017
18:05
Nice little rise in the rig count today should bode well for next week http://phx.corporate-ir.net/phoenix.zhtml?c=79687&p=irol-rigcountsoverview
brugen
10/11/2017
04:41
Oil markets stable, but analysts expect high volatility ahead Analysts said the high prices were a result of efforts by the Organization of the Petroleum Exporting Countries (OPEC) and Russia to withhold supplies to tighten the market, as well as strong demand and rising political tensions. “Oil prices have rallied sharply over the past week ... The latest catalyst for this move higher was the sharp rise in geopolitical tensions last weekend, with growing confidence in an OPEC extension and strong oil demand fueling the rally previously,” said U.S. bank Goldman Sachs. But there were some words of caution. “This (oil upward) move may be short lived as ... it is possible that shale ... production can be brought back on stream relatively quickly,” said Goldman’s peer Morgan Stanley. Goldman warned of greater price volatility ahead due to increasing tensions in the Middle East, especially between OPEC fellows but political arch-rivals Saudi Arabia and Iran, along with soaring U.S. oil production. “We see potential for high spot price volatility in the coming weeks,” Goldman said. “A rise in the U.S. rig count and a non-committal OPEC meeting would push prices lower, in our view, yet additional escalation of recent geopolitical tensions could lead to another large rally,” it added. ANZ bank said that “political stability was jolted awake this week” in the Middle East. “While the likelihood of a disruption to (oil) supply remains low, we believe the events raise the probability of Saudi Arabia taking a more aggressive stance on production curbs ... As such, we see oil prices remaining well supported in the short term,” ANZ said. OPEC is due to discuss output policy during a meeting on Nov. 30, and it is expected it will extend the cuts beyond the current expiry date in March 2018. “Recent OPEC communication suggests that an extension will be announced but there are no details on volumes,” Goldman said.
masurenguy
06/11/2017
21:27
Thanks, 1gw. Fingers crossed for good results that are well received.
brugen
06/11/2017
19:54
Interims due on 15th November (announced in AGM statement). When I was talking to Enteq about the oil price I think the implication was that they thought there might be significantly more drilling (and hence more rigs active) by their US clients (or the clients of their clients) above about $60 WTI.
1gw
06/11/2017
17:50
Although the oil price is up we still need to see this come through into a higher rig count on the ground in the US. Baker Hughes Rig Count seems to have stalled somewhat over the last couple of months. I also worry about product profitability. At least some of the great increase in drillers productivity of the last couple of years must have come from attacking suppliers margins. I am however a natural worrier and hopefully the half year figures will cheer me up. Do we have a date for publication?
brugen
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