Enteq Upstream is growing a global business made up from products and technologies which will be sold to the upstream oil & gas services sector. Enteq is investing in strategic acquisitions and internal product and market development. Growth is expected to be achieved through broadening the range of technologies and products as well as addressing new markets ; both geographic and vertical.
Enteq Upstream has specialist knowledge in markets related to understanding of the reservoir, directional drilling and optimization of production. It is in these areas that over time an integrated suite of products, technologies and specialty services will be developed.
Enteq, to date, has focused on the Measurement While Drilling equipment market which is strongly influenced by the high activity and on-going demand for longer horizontal well in the production of shale oil & gas.
Strategic acquisitions have been completed of XXT, a leading supplier of ‘next generation’ down hole and surface electronic and software systems, and KMS, a high quality mechanical components supplier to directional drilling companies.
Enteq-XXT and Enteq-KMS currently have a customer base in North America, with drivers for the business from both Capital and Operational expenditure. The products and technology supplied is qualified for the high temperatures and arduous drilling conditions encountered in deep and long horizontal wells through shale, for oil or gas production.
Investment is continuing in the expansion of the product ranges and capacity in these businesses and in international business development.
Enteq Upstream is backed by a number of the largest institutional investors on the London Stock Exchange, many of whom have more than £100bn under management. Combined with some pro-active funds looking to increase exposure to oil & gas services and some corner-stone Industry individuals, Enteq is able to take advantage of further long term funding from existing investors as well as attracting new funds.
The medium term vision for Enteq Upstream plc is to build an international supply chain business of products and technologies supplying oil & gas service companies.