Enteq Technologies plc focusing on $3.6bn pa global Rotary Steerable market

Enteq Technologies plc (LON:NTQ) has announced its interim results for the six months ended 30 September 2023.

Key Highlights (FY24 year to date)

Enteq Technologies is a specialist energy services engineering and technology company with the flagship product being the SABER Tool (Steer-At-Bit Enteq Rotary Tool) for directional drilling technology.  

·    The SABER project, a novel and disruptive method of drilling boreholes, has progressed well with the technology operating as expected during successful field-testing in Oklahoma.  SABER tools are currently in manufacture for commercial deployment.

·    Investment in the SABER engineering has continued using existing balance sheet resources, with a closing cash position of $5.1m at the end of the period ($5.4m at end of March 2023) following realisation of capital from the sale of XXT IP and assets.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
X
LinkedIn
Enteq Technologies plc

More articles like this

Enteq Technologies plc

Addressing methane emissions for climate change

Methane gas stands as the second largest contributor to climate change, responsible for approximately a third of the current global warming due to human activities. Its potency is over 80 times greater than carbon dioxide in

Enteq Technologies plc

Eden Project achieves geothermal heating milestone

This winter marked a significant milestone for the UK as the Eden Project’s Biomes, offices, and new state-of-the-art plant nursery were heated by deep geothermal energy for the first time since 1986. The 5 km well,

Enteq Technologies plc

Harnessing Geothermal heat for a sustainable future

Beneath the Earth’s surface lies a largely untapped source of energy: geothermal heat. Jamie Beard, the executive director of Project InnerSpace, a nonprofit dedicated to accelerating geothermal power development, explains: “The core of our Earth is

Enteq Technologies plc

Enteq Technologies appoints Amir Absoud as Head of Finance

Enteq Technologies plc (LON:NTQ), the specialist energy services engineering and technology company, has announced the appointment of Amir Absoud as Head of Finance, on a contractual arrangement, who will commence his role on 24 May 2024, succeeding

Enteq Technologies plc

Hungary aims to double Geothermal Energy use by 2030

Hungary aims to double the amount of geothermal energy in its energy use by 2030 and the government is offering state-subsidised loans to mitigate investors’ risk in research, the Energy Affairs Ministry said on April 18.

Enteq Technologies plc

Understanding Methane Capture

Since the advent of the industrial revolution, man has continued to explore distinct ways of fulfilling energy needs. One of these techniques heavily relied upon is the extraction and burning of fossil fuels, an activity largely

Enteq Technologies plc

Enteq Technologies expects revenue of $900k for 2024

Enteq Technologies expects to report revenue of about $900,000 for the financial year ended 2024, down from $6.2 million posted for financial 2023. The company says this reflects its sale of the XXT business for about

Enteq Technologies plc

Unlocking the potential of Geothermal Energy in the US

A limitless supply of heat exists beneath our feet within the Earth’s crust, but harnessing it at scale has proved challenging. Now, a combination of new techniques, government support and the pressing need to secure continuous