Enteq Technologies Share Discussion Threads

[rivaldo] 01/3/2022 14:52

News today - I like the comment re SABER of a "fully commercial directional drilling system in 2022":



"01 March 2022
Enteq Technologies launches UK technology centre to support commercial growth and further technology development

Enteq Technologies (Enteq), the energy services technology and equipment supplier, has today opened its new technology centre in Andoversford, near Cheltenham, in the UK. aditional rotary steerable systems (RSS) for directional drilling. Housing a team of engineers, the dedicated technology centre will allow the company to continue development of the tool ahead of full commercialisation in 2022.

Andrew Law, Enteq CEO comments on the opening: “Once the SABER Tool outperformed our expectations in initial surface and downhole testing, we decided it was time to push forward with our plans for a new UK technology centre to support the tool’s further commercial development.

“Though our ambitions for SABER are global, the UK is our home as a company and an excellent base from which to conduct business worldwide, with a wealth of respected and relevant engineering talent. The area is known within the industry for being a hub of expertise for RSS development, so it was the logical that this should be the location of our UK technology centre.”

The centre will be started up by Marcus Quitsch, who was recently employed as the company’s Reliability Manager. Marcus brings nearly two decades of experience from companies including Baker Hughes and Weatherford.

Neil Bird, VP Advanced Drilling Systems at Enteq adds: “We’re delighted to welcome Marcus to the team. His track record and knowledge are exactly the calibre that we strive for at Enteq Technologies and we know that he’s going to make a wonderful addition to our management team.

“I am looking forward to bringing the SABER Tool to market as a fully commercial directional drilling system in 2022 underpinned by this new appointment and facility expansion.”

The SABER Tool, is an evolution of the proof of concept, tested by Shell and licensed to Enteq, representing a step-change in directional drilling technology. The Enteq team, which has expanded rapidly in response to its product development and global growth ambitions, has re-engineered the concept resulting in a mechanically simple, plain collar and compact design that promises excellent control and new levels of reliability.

Interested parties can sign up to Enteq Technologies’ upcoming webinar series for an update on the SABER Tool’s downhole testing to date on 1st March."

[1gw] 01/3/2022 14:51

After 8 years here, I think I've had enough of NTQ being a hidden gem. I want it to become a shiny, polished gem on display. If oil prices over $100/bbl together with a hugely increased addressable market through SABER launching can't do it, then I don't know what it's going to take...

[masurenguy] 01/3/2022 13:51

Yeah Riv, this could prove to be a hidden gem. With new oila & gas fields being developed to replace Russian sources SABER could become an invaluable asset.

[rivaldo] 01/3/2022 12:35

Blue :o))

With oil prices up, the rest of the world is trying to cut Russia out of the picture by producing as much elsewhere as possible. Hopefully this will boost NTQ's sales in their core US market as well as the new international markets where they've had success more recently.

[1gw] 24/2/2022 16:56

Highest volume day since April in the end, as I read Yahoo! Finance data.

But everything recorded at 14p and the price didn't move, other than because of the UT trade at the end.

So was someone moving shares about between accounts, or is the sell side still to be reported?

[1gw] 24/2/2022 14:29

A few trades at last, this afternoon.

[p1nkfish] 24/2/2022 11:55

Not having plumbed new depths after the last day or 2 is a positive. People are out. No one cares.

Unloved, under valued on high probability future sales & all we need is a quiet uptrend.
Being so tightly held it could shift quickly once it starts.

[p1nkfish] 24/2/2022 11:35

I don't have any idea but do suspect an accelerated release to market will be needed - else why prepare for it or even mention it?

Value will out but no idea when, probably another year minimum.

Finncap target still 40p.

[1gw] 24/2/2022 11:09

And trades came there none.

One curiosity about today's update. It talks about "recent downhole testing performed with an international customer". Does this mean that there has been a bit of a delay to the "SABER progressing to North American field trials in early 2022" which was guided in the interims? Or is it just that they have some results from the international trials whereas the North American field trials are still underway?

Perhaps this will become clear in the webinar next week.

[1gw] 24/2/2022 07:28

All systems go? Further progress in any event and a working capital facility in place to ramp up the fleet quickly if appropriate.

[rivaldo] 24/2/2022 07:27

An encouraging update - and the news from Ukraine today will only raise oil prices further.

Sales and orders are showing "strength" due to "the increase in active drilling rigs and tightening of surplus capacity in North America, following the rising oil and gas prices".

Plus "Year to date trading, together with the current order book, continues to provide confidence in the Board's expectations for the full financial year."

And downhole and surface testing of SABER has gone well and continues to progress. The opportunity is huge:

"The RSS market has a global size of over $2bn and the SABER technology is targeted at a range of applications across the energy sector; geothermal drilling, methane capture and oil and gas operations"

[p1nkfish] 23/2/2022 08:34

Well the market for Saber is there and waiting. Even some small players in the US are waking up and there will be demand as the Dems will get a good hiding in November with pump prices being what they are over there not to mention heating prices.

Something has to give and I dont see any politician with the balls to face the mid terms without being seen to help on energy prices when its in their power to do so.

[dolittle1] 22/2/2022 13:13

Wow, 12.5p for only £2k worth shares. Whoever it was had to accept offer well below bid. Does not bode well. Going down.

[p1nkfish] 17/2/2022 11:35

Labour cost problems and anyone able to offer spares/materials at low lead-time can name their price as some are out at 6 months +.

Rental kit quickly available should see good demand and a stiff price - could be very good for NTQ.

[1gw] 17/2/2022 11:06

But the article also says that drilling has picked up, largely led by private companies, and that at least one analyst expects large listed independents could soon follow suit.

That sounds to me like NTQ's customers' customers.

It also talks about severe cost inflation, which doesn't sound like a bad thing for NTQ.

Either way, it would be good to get a trading update soon, along with news of those SABER field trials.

[brugen] 16/2/2022 21:28

Interesting article in FT on US shale. Usually paywall but sometimes you get in free as I did tonight.

Drillers say they are staying with capital discipline and not boosting output. Drilling has become a lot more expensive with labour and materials suffering supply chain difficulties / price hikes.

“[Drilling is] small compared to what we’re used to,” Hamm said. “We have to do what Wall Street wants . . . or else your stock craters.”

[rivaldo] 12/2/2022 07:40

I topped up with a few yesterday for the first time in ages. The single buy moved the price up, so hopefully an indication there isn't much stock out there.

NTQ should be in a sweet spot now for the first time in a while:

- they still have a very large cash pile relative to the m/cap
- the oil price is back at high levels and seems likely to stay there for some time
- the US rig count contines to rise steadily
- non-US sales should recover as global economies bounce post-pandemic
- new product distribution agreements announced last year should kick in

plus news flow from SABER is due soon - in "early 2022" regarding progression into field trials - and success would be a gamechanger for NTQ.

[p1nkfish] 10/2/2022 06:53

Currently a scramble but will it last?
I think it will for longer than most expect.

[1gw] 09/2/2022 09:50

1st March webinar on SABER scheduled.

"Learn about the innovative new tool re-thinking traditional RSS design and what’s in store for 2022. Join our webinar on 1st March 2022"

[p1nkfish] 08/2/2022 14:13

$105 target for oil by about mid year from GS.
Talk about kneeing world economy where it hurts.

[p1nkfish] 28/1/2022 14:51

Not without management buy-in. Too soon. SABRE needed.

[vullrich] 28/1/2022 14:36

screams takeover, tiny to swallow.

[1gw] 26/1/2022 08:36

Feels like Enteq has an open goal in front of it. Historic core business should be picking up nicely as the rig count increases, and SABER ready to hit the market just as drilling activity really gets going (if oil & gas prices can maintain something like the current level until field trials are successfully completed and NTQ is ready to sign commercial contracts).

Not that you would know it from the shareprice chart. News eagerly awaited.

[1gw] 24/1/2022 14:27

And Halliburton:

"our Drilling and Evaluation division margins surprised to the upside"

"I am excited about the accelerating multi-year upcycle. I expect the macro industry environment to remain supportive and the international and North America markets to continue their simultaneous growth"