Enteq Technologies PLC has provided an update on the progress of its SABER Tool technology. The company has a customer contract in place, including a first phase of customer testing in Australia, expected to commence in the current financial year. An advanced shipment of SABER equipment to Australia has left Enteq's facility in Houston, and the build program for further equipment is progressing as planned.

The recently recruited Engineering Director has consolidated performance and production improvements, and further flow loop testing at an independent facility in Houston has validated design and performance specifications. A customer technology demonstration and follow-up downhole drilling testing program at the Catoosa, USA test site have been scheduled before the end of March 2024. Customers have been invited to witness the SABER technology being deployed in active drilling conditions, and there will be an introduction of new branding and website refresh.

The SABER Tool is based on a concept originally developed by Shell and provides a novel approach to steering the bit while drilling the well, offering an alternative to existing Rotary Steerable Systems (RSS). Enteq has the exclusive global license for this technology and has developed and refined the concept, generating additional protected IP. The global RSS market is worth approximately US$3.6 billion annually, and the SABER Tool has the potential to drive operational efficiency across directional drilling applications, including hydrocarbon production, geothermal energy, methane capture, and CCS (carbon capture and storage).

Andrew Law, CEO of Enteq, expressed satisfaction with the commercial and technical progress made with SABER, highlighting the support and initial financial commitment from the Australian customer. He also emphasized the team's diligent work to deliver a quality product and the increased confidence in the next series of tools, currently in build for future deployment. This progress marks a positive step towards the full commercialization of the SABER technology in a market with a demand for this strong alternative method of steering while drilling.