Exploration • Drilling • Field Services
significant proportion of the revenue from Statoil’s Eagle Ford acreage will come from gas liquids and condensate which are competitively located to be sold into the petrochemical and refinery centres in Texas.
CNOOC is also becoming involved in Eagle
Ford with a US$1.08b (€850m) investment in 33 per cent of Chesapeake Energy’s shale acreage there. It also has agreed to pay 75 per cent of the US company’s drilling and well completion costs, up to a further US$1.08b (€850m). Chesapeake will retain operational control.
Restructuring transactions In another new move, Chevron and Atlas Energy have announced that Chevron is to acquire Atlas Energy for cash of US$3.2b (€2.4b) and assumed pro forma net debt of approximately US$1.1b (€850m). Te acquisition will provide Chevron with a natural gas resource position primarily located in southwestern Pennsylvania’s Marcellus Shale. Te acquisition is subject to certain Atlas Energy restructuring transactions, approval by Atlas Energy shareholders and regulatory clearance. “Tis acquisition is the right opportunity for
Chevron,” said company vice chairman George L Kirkland. “We are acquiring a company that has one of the premier acreage positions in the prolific Marcellus. Te high quality resource, competitive cost structure in the Marcellus, strong growth potential of the asset base and its proximity to premier natural gas markets make this targeted acquisition a compelling investment for Chevron.” Kirkland also commented: “Te Atlas Energy
assets further advance Chevron’s global shale gas position, complementing the company’s recent
entrance into shale gas opportunities in Poland, Romania and Canada.” Gary Luquette, Chevron North America exploration and production president said: “Atlas Energy brings to us a highly skilled team with strong operating experience and established land management capabilities. Tis knowledge, together with Chevron’s technical expertise and global experience with large scale project developments, will create strong organisational synergies.”
Natural gas reserves
When the transaction is complete, Chevron will gain Atlas Energy’s estimated nine trillion cubic feet of natural gas resource, which includes approximately 850b cubic feet of proved natural gas reserves with approximately 80 million cubic feet of daily natural gas production. Te assets in the Appalachian basin consist of
486 000 net acres of Marcellus Shale; 623 000 net acres of Utica Shale; and a 49 per cent interest in Laurel Mountain Midstream a joint venture which owns over 1000 miles of intrastate and natural gas gathering lines servicing the Marcellus. Assets in Michigan include Antrim producing assets and 100 000 net acres of Collingwood/Utica Shale. In April 2010, Atlas Energy entered a joint
venture to develop its Marcellus assets with a wholly owned affiliate of Reliance Industries. Under the agreement, Chevron will assume Atlas Energy’s role as operator with 60 per cent participation in the Marcellus joint venture, under the original agreement terms between Atlas Energy and Reliance. Reliance will continue to fund 75 per cent of the operator’s drilling costs, up to US$1.4b (€1b). l
Anchor tension monitoring systems F
or two recent projects Strainstall supplied Anchor Tension Monitoring Systems for offshore floating units
in the Far East and South America. Although both systems performed basically the same functions, each utilised a different Strainstall sensor to determine the anchor tensions. One system used Strainstall
inclinometers attached to the anchor chain, whilst the other used Strainstall underwater strain rings attached to the chain stopper trunnions. The Inclinometers measure the angle of the chains, which are then converted to 4-20mA outputs by Strainstall line amplifiers for transmission to a PLC based display system where
the angles are displayed. The operators are then able to estimate the tensions in the anchors from tables supplied. The Strain Rings measure the strain imparted to the
chain stopper trunnions from the anchor chain. The strain rings are attached to the trunnions and the complete units calibrated to determine strain versus tension. The outputs from the strain rings are then converted to 4-20mA by Strainstall Intrinsically Safe amplifiers for transmission back to the display station, where the tensions are displayed, historicaldata logged and alarms provided. l
Enter 11 or ✔ at
www.engineerlive.com/iog
Strainstall UK Ltd, Cowes, Isle of Wight, UK.
www.strainstall.com
www.engineerlive.com 11
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56