Enteq Upstream Names New CEO
Enteq Upstream (LON: NTQ) has named commercial director Andrew Law CEO, the oilfield services technology and equipment supplier reported Monday.
Law will succeed Enteq founder Martin Perry in the CEO role, the company noted in a written statement emailed to Rigzone. Perry will move into the role of non-executive chairman and Law will focus on driving international business growth, the firm added.
“As the industry recovers, we are ready to accelerate Enteq’s growth trajectory,” remarked Perry. “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.”
Enteq pointed out that Law brings more than two decades of industry engineering and finance experience with Weatherford (OTCMKTS: WFTLF), KPMG, Schlumberger (NYSE: SLB), and – for the past two-plus years – Enteq. The firm noted that Law’s appointment follows its recent launch of the “SABER Tool” alternative to traditional rotary steerable systems for directional drilling.
“We’ve seen strong growth a number of repeat orders from well-established North American operators across our portfolio,” commented Law. “We intend to build on that growth and see the SABER Tool as a point of different 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.”
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