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.
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?