Enteq Upstream - strong balance sheet maintained
Enteq Upstream (LON:NTQ) has released a trading update for the year ending March 2020 and the outlook relating to COVID-19 and oil price declines. The company expects to report results broadly in line with market expectations for the year to March 2020, with revenues of around US$11mln, underlyingEnteq Upstream is engaged in acquiring, consolidating and operating companies providing specialist reach and recovery products and technologies to the upstream oil and gas services market. Co. is organized into a single business unit, the Drilling Tools division, which is based solely in the U.S. The principal activities of the Drilling Tools division is the design, manufacture and selling of specialized parts and products for directional drilling and measurement while drilling operations for use in the energy exploration and services sector of the oil and gas industry.
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