LONDON (ShareCast) - (Sharecast News) - Energy service equipment company Enteq Technologies reported significant advancements with the testing of its innovative 'SABER' tool in North America on Wednesday.

The AIM-traded firm said the tool was designed as an alternative to the conventional rotary steerable systems (RSS) used in the drilling industry.

It said that during extensive drilling tests, the SABER system achieved its objectives, effectively generating steering forces to alter the well's direction at angles consistent with industry expectations for various applications.

To ensure the authenticity of the test results, an independent survey was conducted to verify changes in the drilling trajectory.

Enteq said the successful testing in an operational environment was a step forward in the technology readiness level of the SABER tool.

In light of the developments, Enteq said it had expressed its intention to collaborate with strategic regional industry partners to further the operational use of the SABER system.

The company explained that it was planning to execute customer trials in a commercial setting, while also focusing on engineering performance enhancements identified during the tests.

It said the SABER tool had the potential to significantly reshape the rotary steerable systems market, which was currently valued at over $2bn per annum.

"We're delighted with the results of the SABER drilling, demonstrating that the SABER concept can steer effectively in an operational environment," said chief executive officer Andrew Law.

"Enteq are proud of the team of engineers who have worked persistently to deliver this success, building on the original concept developed by Shell.

"We look forward to working alongside selected customers and industry partners to bring this technology to market and to deliver a positive and disruptive impact."

At 1554 BST, shares in Enteq Technologies were up 13.94% at 9.4p.

Reporting by Josh White for Sharecast.com.

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