Antech Receives Investment Backing
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.