Shell joins the project as a gas supplier and equity participant
10 April 2011 14:43
San Ramon. Chevron Corporation (NYSE: CVX) today announced the signing of agreements with Shell Development (Australia) Pty Ltd to bring Shell into the Chevron-operated Wheatstone Project as a natural gas supplier and equity participant.
George Kirkland, vice chairman, Chevron Corporation, said, "Chevron is pleased to welcome another participant into the Wheatstone Project. The Wheatstone hub will provide a reliable new source of energy to Australia and the region. It will also further enhance Chevron's position as a leading supplier of liquefied natural gas (LNG) in Asia-Pacific."
Under the unitization agreement with Chevron's Australian subsidiaries, Shell will assume an 8 percent participating interest in the Wheatstone and Iago natural gas fields in the Chevron-operated permits WA-253-P, WA-17-R and WA-16-R, located offshore northwest Australia.
The Wheatstone and Iago gas fields will supply Trains 1 and 2 of the Wheatstone Project, located onshore at Ashburton North in Western Australia.
Shell will also assume a 6.4 percent participating interest in the project facilities, with Chevron remaining project operator.
Chevron Australia managing director, Roy Krzywosinski, said front-end engineering and design (FEED) activity on the Wheatstone Project is nearing completion.
"The Wheatstone Project is set to become one of Australia's largest resource projects and Australia's first LNG hub. A final investment decision is expected in the second half of this year once environmental approvals and other associated agreements are finalized with various levels of government."
The first phase of the Wheatstone Project consists of two LNG processing trains with a combined capacity of 8.9 million tonnes per annum (MTPA) and a domestic gas plant.
Chevron is one of the world's leading integrated energy companies, with subsidiaries that conduct business worldwide. The company's success is driven by the ingenuity and commitment of its employees and their application of the most innovative technologies in the world. Chevron is involved in virtually every facet of the energy industry.
The company explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and other energy products; manufactures and sells petrochemical products; generates power and produces geothermal energy; provides energy efficiency solutions; and develops the energy resources of the future, including biofuels. Chevron is based in San Ramon, Calif.
More information about Chevron is available at http://www.chevron.com.
Showing posts with label Joins. Show all posts
Showing posts with label Joins. Show all posts
Sunday, April 10, 2011
Monday, April 4, 2011
Traco Joins Quality Companies
Traco Joins Quality Companies
Monday, April 04, 2011
Quality Companies LLC
Quality Companies welcomed Traco to its family of companies. Effective April 1, 2011, Traco will join the Quality Companies taking its place alongside Quality Construction & Production, (QCP) and Quality Production Management, (QPM). The addition of Traco further diversifies the Quality Companies portfolio and strengthens its position as the premier oil and gas service provider.
Kendall Allen, Traco's Vice President of Production, sees many new opportunities by joining the Quality Companies, adding "This move with Quality Companies gives us all more diversification in the oil and gas industry making us much stronger….We are all very proud to be joining such a fantastic organization."
Quality Companies co-founder, Nathan Granger, commented that the similar management philosophies and business models of Quality and Traco should facilitate a seamless integration of services. Granger expects the Traco addition will immediately enhance the growth potential of all of the Quality Companies and anticipates the organization will eclipse the 100 Million Dollar revenue mark within 3 to 5 years. Granger said, "There's no doubt the Traco addition provides further opportunities for QCP and QPM and vice versa. Although I am not a huge fan of the term, Quality Companies will truly be a 'one stop shop' for many of our clients. We're now fully capable of servicing the complete production services needs of our clients from fabrication to installation, maintenance, and operation…"
Troy Collins, Quality Companies President and cofounder, is also enthusiastic about the Traco addition adding that, "it was nice to finally get the deal wrapped up today so that we can get to work building our new facility. There's not a doubt in my mind that this deal enhances the ability of all of our companies to meet the diversified needs of our clients. As someone with firsthand knowledge of being shortchanged in a buyout, I am completely committed to Traco and ensuring that all parties involved in this acquisition achieve maximum return."
Quality Companies will consolidate operations at Traco's existing 14 acre facility on Griffen Road in Youngsville, LA where it plans to build state of the art fabrication and paint facilities, as well as a 12,000 square foot corporate headquarters. Construction is slated to begin in late April with completion projected before January 1, 2012.
Monday, April 04, 2011
Quality Companies LLC
Quality Companies welcomed Traco to its family of companies. Effective April 1, 2011, Traco will join the Quality Companies taking its place alongside Quality Construction & Production, (QCP) and Quality Production Management, (QPM). The addition of Traco further diversifies the Quality Companies portfolio and strengthens its position as the premier oil and gas service provider.
Kendall Allen, Traco's Vice President of Production, sees many new opportunities by joining the Quality Companies, adding "This move with Quality Companies gives us all more diversification in the oil and gas industry making us much stronger….We are all very proud to be joining such a fantastic organization."
Quality Companies co-founder, Nathan Granger, commented that the similar management philosophies and business models of Quality and Traco should facilitate a seamless integration of services. Granger expects the Traco addition will immediately enhance the growth potential of all of the Quality Companies and anticipates the organization will eclipse the 100 Million Dollar revenue mark within 3 to 5 years. Granger said, "There's no doubt the Traco addition provides further opportunities for QCP and QPM and vice versa. Although I am not a huge fan of the term, Quality Companies will truly be a 'one stop shop' for many of our clients. We're now fully capable of servicing the complete production services needs of our clients from fabrication to installation, maintenance, and operation…"
Troy Collins, Quality Companies President and cofounder, is also enthusiastic about the Traco addition adding that, "it was nice to finally get the deal wrapped up today so that we can get to work building our new facility. There's not a doubt in my mind that this deal enhances the ability of all of our companies to meet the diversified needs of our clients. As someone with firsthand knowledge of being shortchanged in a buyout, I am completely committed to Traco and ensuring that all parties involved in this acquisition achieve maximum return."
Quality Companies will consolidate operations at Traco's existing 14 acre facility on Griffen Road in Youngsville, LA where it plans to build state of the art fabrication and paint facilities, as well as a 12,000 square foot corporate headquarters. Construction is slated to begin in late April with completion projected before January 1, 2012.
Friday, March 25, 2011
Westmoreland County Joins Shale Consortium
Westmoreland County Joins Shale Consortium
Friday, March 25, 2011
by Rich Cholodofsky, Tribune-Review, Greensburg, Pa
Knight Ridder/Tribune Business News
Westmoreland County commissioners on Thursday voted to join a consortium of landowners as part of a move that could lead to the first Marcellus shale deep gas well on county property on an historic site dating back to 1773.
The unanimous vote did not directly authorize a lease for any company drill at the more than 140-acre property on which the Historic Hanna's Town tourist attraction sits. The town, established as the first county seat west of the Allegheny Mountains, is operated by the Westmoreland County Historical Society.
"We're looking at all properties so we can explore the natural resources on behalf of taxpayers of Westmoreland County," said Commissioner Charles Anderson.
The commissioners said no deal to lease the land was imminent, but attorney John Ward will handle negotiations for the county and nearly two dozen surrounding private property owners.
Those owners and the county will negotiate as a group with oil and gas companies that wish to lease land to install deep well drilling platforms to harvest natural gas from the lucrative Marcellus shale formation.
"I don't think Pennsylvania or this county can write off a valuable reserve such as a pool of natural gas," said Commissioner Tom Balya.
Before the vote, East Huntingdon resident Jan Kiefer asked county officials to consider advocating against Marcellus shale drilling, saying it was unsafe and could potentially damage the environment.
"People are polluting our air and water and it's affecting our health," Kiefer said.
Commissioners said they can't restrict local governments from authorizing Marcellus drilling, and then voted to join the consortium.
"We have to do it smart and we have to stay on top of it," Anderson said.
Commissioner Ted Kopas said revenues generated from leasing drilling rights and gas royalties would be used to provide a dedicated source of revenue to build a new visitors center at Historic Hanna's Town.
The county and the historical society plan to build a $4.2 million center at the site. The county has given the project a $1 million grant, while about half of the overall project cost has been raised.
Friday, March 25, 2011
by Rich Cholodofsky, Tribune-Review, Greensburg, Pa
Knight Ridder/Tribune Business News
Westmoreland County commissioners on Thursday voted to join a consortium of landowners as part of a move that could lead to the first Marcellus shale deep gas well on county property on an historic site dating back to 1773.
The unanimous vote did not directly authorize a lease for any company drill at the more than 140-acre property on which the Historic Hanna's Town tourist attraction sits. The town, established as the first county seat west of the Allegheny Mountains, is operated by the Westmoreland County Historical Society.
"We're looking at all properties so we can explore the natural resources on behalf of taxpayers of Westmoreland County," said Commissioner Charles Anderson.
The commissioners said no deal to lease the land was imminent, but attorney John Ward will handle negotiations for the county and nearly two dozen surrounding private property owners.
Those owners and the county will negotiate as a group with oil and gas companies that wish to lease land to install deep well drilling platforms to harvest natural gas from the lucrative Marcellus shale formation.
"I don't think Pennsylvania or this county can write off a valuable reserve such as a pool of natural gas," said Commissioner Tom Balya.
Before the vote, East Huntingdon resident Jan Kiefer asked county officials to consider advocating against Marcellus shale drilling, saying it was unsafe and could potentially damage the environment.
"People are polluting our air and water and it's affecting our health," Kiefer said.
Commissioners said they can't restrict local governments from authorizing Marcellus drilling, and then voted to join the consortium.
"We have to do it smart and we have to stay on top of it," Anderson said.
Commissioner Ted Kopas said revenues generated from leasing drilling rights and gas royalties would be used to provide a dedicated source of revenue to build a new visitors center at Historic Hanna's Town.
The county and the historical society plan to build a $4.2 million center at the site. The county has given the project a $1 million grant, while about half of the overall project cost has been raised.
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