Enteq Upstream (Enteq), the oilfield services technology and equipment supplier, has appointed commercial director Andrew Law to CEO, succeeding Enteq founder Martin Perry, on April 19. The appointment marks another milestone on the company’s ambitious growth strategy in the directional drilling market.
Perry will step into the role of non-executive chairman, while Law will focus on driving international business growth and continuing to differentiate Enteq’s product portfolio. With a wealth of engineering and finance expertise from Weatherford, KPMG and Schlumberger, Law brings over 20 years of industry experience to the role, with more than two at Enteq to-date.
“As the industry recovers, we are ready to accelerate Enteq’s growth trajectory,” Perry said. “With Andrew at the helm, I’m confident we will continue to build on our success of establishing the business in new geographical markets. I’m committed to supporting Andrew in this role, while also reviewing strategic growth opportunities for the business.”
The news follows the company’s recent launch of its novel alternative to traditional rotary steerable systems (RSS) for directional drilling: the SABER Tool (Steer-At-Bit Enteq Rotary Tool). The SABER Tool presents a step change in directional drilling offering a more accurate, agile and cost-effective alternative to existing RSS.
“We’ve seen strong growth a number of repeat orders from well-established North American operators across our portfolio,” Law said. “We intend to build on that growth and see the SABER Tool as a point of difference in our offering. As directional drilling becomes more complex, efficiency is front and center and SABER will offer service companies and operators alike a way to remain competitive.”
In addition to these senior management appointments, the company recently hired Neil Bird as project director to steer the development and growth of the SABER Tool.
Black Falcon Energy LLC, as managing company, retained EnergyNet for the sale of a Midcontinent opportunity in Arkansas, Kansas, Oklahoma and Texas through a sealed-bid offering closing June 3.
Henry Resources LLC has retained TenOaks Energy Advisors as its exclusive adviser in connection with the sale of its nonoperated working interest properties in the Permian Basin across West Texas and southeastern New Mexico.
Black Falcon Energy retained EnergyNet for the sale of a Barnett Shale opportunity that includes interest in nearly 1,000 wells across North Texas.