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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Day of Seafarer: ICS Highlights Seafarers Role in Migrant Rescues

Gerardo Borromeo, Vice Chairman of the International Chamber of Shipping (ICS) took the opportunity today to highlight the courage that is currently being displayed by seafarers,

“Twiggy” Baker Wins BWT Puerto Escondido Challenge

Grant “Twiggy” Baker (ZAF) claimed victory today at the Puerto Escondido Challenge, besting a field of 24 of the world’s best big wave surfers in towering 20-to-35

Winners of International Seafarers' Welfare Awards

The winners of ISWAN's International Seafarers' Welfare Awards 2016 were announced on 24th June at a high-profile ceremony held in Manila, the Philippines. The

Finance

Morocco Sells 40% Stake in Port Operator in IPO

The Moroccan government raised 1.94 billion dirhams ($197 million) by selling a 40 percent stake in state-owned port operator Marsa Maroc in the country's first initial public offering this year,

Panamax Vessel Demand Keeps Baltic Index Up

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for a fourth straight session as higher demand

Panama Opens Canal Extension Amid Risk, Cost Issues

Panama opened the long-delayed $5.4 billion expansion of its shipping canal amid cheering crowds on Sunday, despite looming economic uncertainty in the shipping

Environmental

Chemical Tanker Runs Aground off Alaska

A 599-foot Norway flagged chemical tanker Champion Ebony ran aground near Nunivak Island, Alaska on June 24.   U.S. Coast Guard Sector Anchorage watchstanders

Coast Guard Investigates Sheen in Lake Ontario

The U.S. Coast Guard is responding to a report of a sheen in Lake Ontario near the Fitzpatrick Nuclear Power Plant in Scriba, New York, approximately 10 miles northeast of Oswego, New York, Sunday.

USCG Investigates Unknown sheen in Lake Ontario

The Coast Guard is responding to a report of a sheen in Lake Ontario near the Fitzpatrick Nuclear Power Plant in Scriba, New York, approximately 10 miles northeast of Oswego, New York, Sunday.

News

Morocco Sells 40% Stake in Port Operator in IPO

The Moroccan government raised 1.94 billion dirhams ($197 million) by selling a 40 percent stake in state-owned port operator Marsa Maroc in the country's first initial public offering this year,

BigLift Shipping Expands Heavy Lift Fleet

BigLift Shipping said it has ordered a third Happy S-type vessel. The new build vessel, to be named Happy Sun, will be identical to BigLift’s Happy Star and will

Panamax Vessel Demand Keeps Baltic Index Up

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for a fourth straight session as higher demand

 
 
Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair
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: 0.1363 sec (7 req/sec)