The Shaw Group has completed the pad site on the North side of Highway 70 near the tower. The equipment is being moved to the Triche property today to begin on the pad site there. Shaw is hoping to start driving the casing on Tuesday. They are currently working on contractual issues with individual companies.
The geo-probe process is also expected to begin on Tuesday. According to the plan, there will be 4 geo-probe locations on the outer perimeter of the North side property, 6 locations on the Triche property, and they are still working with the residents on additional locations within the community.
Texas Brine has completed installing the 4″ casing. They are now in the process of dismantling the snubbing unit and are expected to complete that process today.
BATON ROUGE, La.–(BUSINESS WIRE)–Jul. 30, 2012–The Shaw Group Inc. (NYSE: SHAW) today announced it has signed a definitive merger agreement with CB&I (NYSE: CBI) under which CB&I will acquire Shaw in a cash and stock transaction valued at approximately $3 billion.
Under the terms of the agreement, CB&I will acquire Shaw for $46.00 per share in cash and stock. Shaw’s shareholders will receive $41.00 in cash and $5.00 in CB&I equity (0.12883 shares based on an agreed upon recent average stock price of $38.81 per share) for each share of Shaw stock at closing.
The combination of CB&I and Shaw will create one of the world’s largest engineering and construction companies focused on the global energy industry. Both companies believe this agreement will create value through a combined company with broader participation in a robust energy market. . . .
What is the progress of the venting as well as the rate of increase or decrease of pressure in the aquifer? What is being done to determine the extents of the gas bubble from the center… and what is the level of pressure reduction of gas in the aquifer that needs to be reached in order for it to be considered safe enough for the mandatory evacuation order be lifted? …
Since vent wells drilled close to the site were pressurized enough to blow out through the casing, is the DNR proceeding with drilling vent wells further away, i.e. under Pierre Part and Paincourtville area to determine the pressures there. If no pressure is found there, will they move closer and closer to the dome to determine where the level of concern should be and make contingency plans to evacuate the affected areas or will the communities have to wait for the bubbles to show up first prior to any proactive measures being taken? We do understand that they have contracted with the Shaw Group to oversee the venting mandate of the seven mining and storage companies, but we consider it the DNR’s obligation to determine the radius of the affected area… this cannot be done by waiting for these companies to proceed with venting. The pressures are probably building in the aquifer from an uncapped source and the only way to determine the success of the operation is to monitor any pressure deductions. Contrapositively, if the pressures continue to increase despite efforts to vent, more aggressive action is necessary.