CESIUM FORMATE DRILLING AND COMPLETION FLUID PROVES SUCCESSFUL IN THE NORTH SEA
HOUSTON, Nov 10, 1999 /PRNewswire via COMTEX/ -- Cabot Corporation (NYSE: CBT), today announced the first major application of Cabot Specialty Fluids' new Cesium Formate drilling and completion fluid. The innovative, high density, solids-free fluid was successfully used in a completion operation for Shell UK Exploration and Production (Shell Expro) in the United Kingdom sector of the North Sea. The completion operation was conducted on Shell Expro's Shearwater project that lies in the Central Graben area of the Central North Sea, approximately 124 miles east of Aberdeen, Scotland. Shearwater is a joint partnership that is operated by Shell Expro, on behalf of Shell UK, Esso Exploration and Production UK Ltd., ARCO British Ltd. and Superior Oil UK Ltd., and Canadian Superior Oil UK Ltd., (members of the Mobil group of companies).
Shell Expro's Shearwater completion operation used Cabot's Cesium Formate in an under-balanced perforating procedure to minimize the risks associated with extreme reservoir temperature and pressure. High temperature (360oF), pressure, (approximately 14,000 psi) and well depths in excess of 17,000 feet characterize the Shearwater gas condensate reservoir. Cabot's Cesium Formate fluid was awarded the highest environmental rating by the United Kingdom's Department of Trade and Industry (DTI), and fit with Shell's efforts to utilize "best practice" technologies. Cesium Formate's wellbore performance and health, safety and environmental characteristics are superior to traditional brines.
"The first major application of any new product is critical in the introduction process," says U.R. Weems, President of Cabot Specialty Fluids Division. "This successful demonstration of Cesium Formate illustrates that this high density drilling and completion fluid has tremendous promise as an alternative to current fluid technology in the oil and gas drilling industry." After the Shell Expro Shearwater well was suspended in April 1999, in September it was successfully re-entered and completed using Cabot's Cesium Formate. A detailed description of the entire completion operation is available by contacting Cabot Specialty Fluids at 1-888-CSDRILL.
Cabot Specialty Fluids is a business division of Cabot Corporation. Founded in 1882 and headquartered in Boston, Massachusetts, Cabot Corporation is a global specialty chemical, materials and energy company with 1999 sales of $1.7 billion. Along with Specialty Fluids, Cabot's major business units include carbon black, fumed silica,inkjet colorants, microelectronics materials, performance materials, plastics and liquefied natural gas.
SOURCE: Cabot Corporation
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COMMENT: This has been awhile coming, but it looks like the results were worth it. Note: the partners in the project - this creates significant marketing opportunities for cesium formate. Also remember, the TANCO mine only has 300,000 tonnes grading 23.3% cesium, which is about 80% of known cesium reserves worldwide + the potential value of the cesium as a new revenue source for Cabot's Specialty Fluids Division warranted a $25-30 million investment in a cesium formate/acetate plant on the Tanco minesite.
DRT |
