Qteq expansion lands contract and saves jobs
Off the back of its recent acquisition of Perth-based subsurface data logging company Surtech Systems, METS company Qteq has already won the first of many expected contracts to provide borehole data using new innovative measurement sensors and systems.
The contract for environmental logging in the Northern Territory, will use Qteq’s patented BMR (Borehole Magnetic Resonance) technology to provide real-time accurate measurement of the aquifer. This, combined with Surtech’s portfolio, will allow clients to make informed subsurface decisions.
The completed acquisitions of Surtech Systems and directional drilling and MWD company WellServ, means Qteq clients now have access to industry-leading systems to collect accurate data on the composition and behaviour of subsurface rocks.
Qteq Chief Business Development Manager Stuart McCulloch said the acquisitions, which will be re-branded as Qteq Measurement Systems, had also saved 22 regional jobs.
“These acquisitions will provide our customers with an integrated product offering for all geotechnical borehole logging requirements, especially in and around the groundwater and minerals market segment,” Mr McCulloch said.
“As a result of these acquisitions, Qteq expects to revolutionise the georesources market by offering the most innovative subsurface services and technology in Australia.”
Qteq Chief Technology Officer Dr Tim Hopper said the two acquisitions expanded the company’s operational footprint and market adoption of BMR, Spectroscopy and LWD (Logging-While-Drilling) services that are currently being developed.
“We now have a platform for commercialising a range of new technologies in our R&D pipeline,” Dr Hopper said.
“In addition, it’s an exciting time for our Australian employees who will have greater access to cross-product training courses and increased career development opportunities.
“Qteq has grown from 40 employees, since launching in August 2017, to more than 117 today, and has managed explosive growth in demand for our services.
“We are an example of a thriving Australian company, more than 90 per cent owned by our Australian staff and management, that creates new opportunities through developing and applying technology.”