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05 Dec 2018 | 14:20

Enteq Upstream files patent for new drilling tool

Enteq Upstream said it had filed a new UK patent application relating to a new technical tool for oil and gas drilling.

The application related to a 'real- time' azimuth and inclination measurement tool.

It was the result of work done by Enteq's UK-based development team set up by following the award of a UK government grant.

The intellectual property and related future product development would broaden the range of Enteq's oil and gas drilling products, as well as having applications in geothermal wells.

'The patent application demonstrates Enteq's continued drive to develop new technologies that both broaden the addressable market and offers additional functionality to our current customer base,' chief executive Martin Perry said.

At 2:20pm: (LON:NTQ) Enteq Upstream share price was -1p at 21p

Story provided by StockMarketWire.com
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