Further significant and timely developments!November 10, 1999: Cesium Formate Drilling and Completion Fluid Proves Successful in the North Sea
Houston, Texas -- Cabot Corporation (CBT/NYSE) today announced the first major application of Cabot Specialty Fluids's
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. "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, it was successfully re-entered in September 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 unit of Cabot Corporation. Founded in 1882 and headquartered in Boston, Mass., 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, microelectronic materials,
performance materials, plastics and liquefied natural gas.
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