Enteq Upstream update excites markets

AIM-listed oilfield services technology firm Enteq Upstream (LON:NTQ) has announced that revenues and underlying EBITDA for the year ending 31st March will be materially ahead of expectations. The board believes that second half revenues will be 25% higher than the first six months of the financial year, which means that overall sales will be roughly 50% up for the full 12 month period.

The company has increased investment in order to expand its rental fleet as well as developing new technologies.

The price of Enteq Upstream shares rose by 16% to 29p (as of 12:15 GMT).