WorldWide Drilling Resource

Chevron’s 10-Year LNG Deal with China Adapted from a Press Release by Chevron Corporation Chevron Corporation announced its Australian subsidiaries have signed a non- binding Heads of Agreement (HoA) with ENN LNG Trading Company Limited (ENN) for the delivery of liquefied natural gas (LNG) to China from the Chevron-operated Gorgon natural gas project in Australia. When the deal is finalized, the company will de- liver LNG from the Gorgon project for a ten-year period beginning in 2018 or early 2019. “This is one more step in the development of our Australian gas business and our global LNG portfolio,” said Mike Wirth, executive vice presi- dent, Chevron Midstream and Development. “It also repre- sents further progress with new LNG buyers in China who are poised to transform the LNG landscape in that country.” As Chevron continues to grow into one of the world’s largest LNG suppliers, this HoA follows the recently announced nonbinding LNG supply HoA with China Huadian Green Energy Co., Ltd. ENN LNG Trading Company Limited is one of the subsidiaries of ENN Energy Holdings Ltd., which is one of the largest natural gas distribution companies in China. ENN Energy Holdings Ltd. operates in 146 cities across 17 provinces and autonomous regions, with over 11.3 million residential, and 52,000 industrial/commercial customers. The company’s LNG receiving terminal is under construction and is expected to be operational by 2018. The Gorgon Project is a joint venture of the Australian subsidiaries of Chevron, ExxonMobil, Shell, Osaka Gas, Tokyo Gas, and Chubu Electric Power. The project combines the development of the Gorgon Field and the nearby Jansz-Io Field. Facilities being built on Barrow Island include an LNG facility with three processing units, a carbon dioxide injection project, and a domestic gas plant. Chevron’s subsidiaries in Australia are also developing the Wheatstone Project as an LNG and domestic gas operation near Onslow, in the Pilbara region of Western Australia. SDP to Provide Drill String Oscillation System Adapted from a News Release by Superior Drilling Products, Inc. Superior Drilling Products, Inc. (SDP), a provider of drilling products for the oil, natural gas, and mining services industries, announced it reached an agreement to supply its Strider Drill String Oscillation System and related services to Baker Hughes, a leading global supplier of oilfield services, products, technology, and systems. The Strider System utilizes its unique patent-pending design to reduce drill string friction on horizontal wells, resulting in improved rates of penetration and cost savings. Its engineering provides a cost-effective alternative to conventional downhole vibration tools. Troy Meier, chairman and CEO of SDP said, “This expanded relationship with Baker Hughes is a testament of the capability of the Strider [system] and provides us an excellent, established sales channel for getting the Strider to market and on more wells, faster. This is a very exciting time for Superior Drilling as we prove out our technologies which enable operators to reduce costs and improve their oil and natural gas well drilling efficiencies. We have had extremely positive reaction by customers since the introduction of Strider in the second half of 2015." 56 APRIL 2016 WorldWide Drilling Resource ®