Antech Receives Investment Backing

MarineLink.com
Friday, June 14, 2013
Directional coiled tubing drilling is an effective way to re-enter existing wellbores in order to increase recovery from mature fields, at reduced cost.

AnTech Ltd, an engineering company that provides directional coiled tubing drilling (DCTD) services, announced that it has secured a substantial investment from Saudi Aramco Energy Ventures (SAEV) and London-based Calculus Capital, following an initial investment from eCORP, which operates a considerable amount of shale deposit acreage in Europe.

The funding is being used to launch AnTech’s new DCTD service capability so that it can use its bespoke systems to deliver highly cost-effective directional drilling solutions to the oil and gas industry. AnTech has set its sights on providing DCTD services with its field-proven drilling systems for operators seeking to improve efficiency and reduce costs.

“In addition to its affordability, the beauty of DCTD is its ability to easily drill underbalanced with a smaller footprint,” said Toni Miszewski, Managing Director of AnTech. “As a result, it is a very effective way to re-enter existing wellbores in order to increase recovery from mature fields, without affecting the environment or damaging the formation,” he added.

AnTech, which specializes in DCTD, offers a complete package; from advising on initial requirements and modeling detailed well plans to providing the right equipment and full directional drilling services. Drawing upon its experience in developing innovative DCTD systems and drilling in the field, AnTech has a thorough knowledge of DCTD technology and its applications. Over time, AnTech has developed a wide range of specialist analytical tools and software that it uses to optimize solutions. The company provides a “one-stop shop” for advice about DCTD to the oil and gas industry. “We model scenarios and advise operators about what they need to do, and how to do it efficiently and cost-effectively,” said Miszewski. “Plus, we can help set up the complete package, working with the rig companies to formulate strategy, equipment, and on-the-job execution,” he added.

Already, the results of the recent cash installments are taking shape as the company gears up to provide drilling campaigns to customers. During the past six months, AnTech doubled the size of its engineering team, and is currently recruiting for additional experienced DCTD field engineers and support staff. It also expanded its global headquarters in Exeter, England to provide improved operations, manufacturing and maintenance facilities. Plans to set up a new service base in Houston, Texas are well underway.

Although AnTech’s first move is to set up operations in the United States and the Middle East, the company is in active discussions with companies around the world about carrying out potential drilling campaigns. AnTech will expand its network of operating facilities as customer needs arise.

According to AnTech, As DCTD technology has evolved, its effectiveness in drilling new horizontal and directional wells has greatly improved, substantially reducing drilling costs for oil and gas wells. With the growing demand for accessing lower margin resources, AnTech is keen to put its experience and field-proven DCTD technology to work. The company is known for its CTD bottomhole assemblies, the COLT TM and the POLARISTM. The COLTTM tool, which measures 3.2 inches in diameter, is ideal for drilling re-entry and thru-tubing wells to increase production, while the five-inch, gyro-steered POLARISTM tool is very effective in drilling “grass roots” wells. The system performed extremely well during a recent drilling campaign carried out in the Niobrara chalk in Kansas USA. The POLARIS tool was navigated with ease and accuracy, rapidly drilling directional, s-curve and horizontal wells.
 

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Long Beach Picketers Not Striking -Port CEO

Port of Long Beach CEO Jon Slangerup issued a statement addressing the status of picketing truckers at the harbor, pointing out that the demonstration is not a strike.

E-Procurement Streamlined via the Cloud

Marine Procurement Solutions (MPS) has built an electronic platform that aims to enhance the purchasing cycle for the maritime industry. MPS provides software,

IMO Forum Aims to Rebuild Somalia's Maritime Sector

A three-day Stakeholders Forum will be held April 27-29 to review draft guidelines for the establishment of a Somalia Maritime Administration, coordinated and funded

Finance

US Designates Three Marine Highway Projects

U.S. Transportation Secretary Anthony Foxx has designated three new Marine Highway Projects.   The Mississippi and Illinois Rivers, previously designated as the M-55 and M-35,

Baltic Index Flat on Muted Shipping Activity

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, remained flat on Monday on muted shipping activity.   The overall index,

Milaha Reports Improved Net Profit for Q1

Qatar Navigation (Milaha) Q.S.C. has announced its financial results for the three months ended March 31, 2015, in which it reported operating revenues of QR 786 million vs.

Environmental

ExxonMobil Debuts Premium AFME 200

To help shipowners meet strict new emission mandates, ExxonMobil expanded its range of fuels for use within Emission Control Areas (ECA) with the introduction of

Ecochlor BWTS

Ballast water treatment technology developer Ecochlor Inc. presented a project case study at CMA Shipping 2015, a case study which covered the retrofit of Ecochlor’s

GEA UV Ballast Water Treatment

Earlier this year GEA won the first contract for equipping cruise liners with its UV ballast water treatment system, BallastMaster marineX, powered by Trojan Marinex.

Energy

BHGI-designed ATB Unit Under Construction

Bristol Harbor Group, Inc. (BHGI) informs it is currently completing the detail design phase of a 399’ x 74’ x 30’ 80,000 BBL double hull oil tank barge and a 120’

Maritime Tension Dominates Southeast Asia Summit

Southeast Asian leaders edged closer to open criticism of China's land reclamation in the disputed South China Sea at a regional summit on Monday, as the Philippines

Lagos Port Drags on Africa's Top Economy

Ruling party reforms improved Apapa port; shippers still face delays and corruption. The road leading to the Lagos port, which handles nearly everything that Africa's biggest economy imports,

News

US Designates Three Marine Highway Projects

U.S. Transportation Secretary Anthony Foxx has designated three new Marine Highway Projects.   The Mississippi and Illinois Rivers, previously designated as the M-55 and M-35,

Long Beach Picketers Not Striking -Port CEO

Port of Long Beach CEO Jon Slangerup issued a statement addressing the status of picketing truckers at the harbor, pointing out that the demonstration is not a strike.

Baltic Index Flat on Muted Shipping Activity

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, remained flat on Monday on muted shipping activity.   The overall index,

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Port Authority Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2187 sec (5 req/sec)