Posts Tagged ‘AJ Lucas’

ASX Company News: AJ Lucas Secures $200 million Of New Contracts

Saturday, April 16th, 2011

AJ Lucas (AJL) wishes to announce the award of new work totaling $200 million across the Drilling Services and Building Construction and Infrastructure divisions. The Drilling Services division has been awarded new contracts valued at $160 million for various durations for 1-4 years in Queensland. Clients include Anglo Coal, Arrow Energy and SANTOS and activities will include Coal Seam Gas Exploration, Surface to In-seam (SIS) and Exploration. Contracts in relation to this work have either been signed or are in the process of being finalized, and the Company believes that it is in a very competitive position to win additional work, particularly SIS work on other projects as demand for the Company’s steering and engineering expertise continues to grow in this area.

AJ Lucas Chairman and Chief Executive Officer, Mr Allan Campbell said, “Demand for our drilling services is stronger than ever. We are seeing the results of our commitment to safer and more efficient drilling services. The Company continues to attract a high contract renewal rate from blue chip clients.”

BC&I division has been recently awarded multiple contracts worth over $40 million for new work in the water, pipelines and infrastructure sectors. The highlights include $20 million contract for the design and construction of a new waste water treatment facility for the town of Robertson in New South Wales and a $10 million upgrade of the Mayfield to Broadmeadow waste water transfer station on behalf of Hunter Water Corporation.

Lucas is a leading provider of specialist infrastructure and mining services and is the largest supplier of drilling services to Australia’s coal and coal seam gas industry, construction, civil and property services. AJ Lucas is also a proven developer of unconventional hydrocarbon properties.

www.lucas.com.au

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AJ Lucas Group JV Agreement

Wednesday, February 17th, 2010

AJ Lucas Group Limited (AJL) announces that the Riverstone/Carlyle Global Energy and Power Funds, a group of energy-focused private equity funds managed by Riverstone Holdings LLC, has committed to subscribe US$58.0 million for equity in Cuadrilla Resources Holding Ltd, the holding company established by Lucas to hold its investment for unconventional hydrocarbon exploration and development in hydrocarbons. Following the subscription, which will be in the form of stapled ordinary and preference shares, each of Lucas and Riverstone will have a fully diluted shareholding of 36.0%.  Cuadrilla is now well capitalised with sufficient resources and the ability to fund its drilling and exploration program for the next three years.

Allan Campbell, CEO and Chairman of Lucas, said: “With Stage 1 of the Cuadrilla Business Plan now completed, we are very pleased to have an investor of Riverstone’s standing join us to assist in the next stage of Cuadrilla’s development. Riverstone already has a significant investment portfolio in the energy and power industries. This network of strategic relationships together with Riverstone’s substantial financial resources will be of considerable benefit to Cuadrilla. “Cuadrilla has acquired an extensive portfolio of highly prospective acreage throughout Europe. With continuing advances in drilling and fraccing technology, we have high expectations of proving up this acreage.”

Cuadrilla was formed in September 2007 as a privately held exploration and production company focused on bringing together leading unconventional oil and gas explorers, developers and technologists to unlock untapped unconventional resource plays in selected parts of Europe, in an environmentally and socially acceptable manner. The philosophy behind the establishment of Cuadrilla was to combine a proven management team with proprietary exploration operational and extraction IP to select plays in exploration, established hydrocarbon provinces in carefully identified European countries and to have a vertically integrated business model in terms of drilling and extraction capability. Cuadrilla has applied for and in some cases been granted, exploration licences totalling in for, excess of 1.5 million acres in the UK, Holland, Spain and Poland. In addition, Cuadrill has designed, overseen the manufacture of and delivered state of the art cementing and fracture stimulation equipment is soon to take delivery of a DrillMec HH22 top drive rig.

www.lucas.com.au

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AJ Lucas Secures $95 million Gorgon Project Contract

Monday, November 16th, 2009

AJ Lucas (AJL) today announced that it had executed a contract with Chevron Australia Pty Ltd for the shore crossings to connect the upstream facilities for the Gorgon project to the onshore infrastructure on Barrow Island. Valued at approximately A$95 million, the contract comprises the construction of nine holes using horizontal directional drilling emerging in the region of 400 metres offshore. The construction methodology is expected to minimise any environmental impact. AJ Lucas will be ordering two new rigs to conduct the work in order to minimise the risk of any local rigs  contamination. The equipment will also be sound proofed to further reduce any impact on the local fauna and marine life. Engineering work has already commenced with site works expected to start in May 2010. To service the contract and Lucas’ other project activities in Western Australia, AJ Lucas has also recently opened an office in West Perth. The Gorgon Project is a joint venture between the Australian subsidiaries of Chevron (Operator), ExxonMobil and Shell, to develop the Greater Gorgon gas fields, located between 130km and 200km off the north-west coast of Western Australia. The Greater Gorgon gas fields contain resources of about 40 trillion cubic feet of gas, Australia’s largest largest-known gas resource.

Mr Campbell, Chief Executive Officer of AJ Lucas, said: “We are particularly pleased and proud to have been selected to provide the shore crossings. Lucas prides itself on its horizontal directional drilling capability to minimise any environmental footprint. Our commitment to achieving this is reflected in our ordering of two totally new rigs to minimize the risk of any contamination”.

AJ Lucas is a leading provider of both specialist infrastructure and mining services. It is the leading supplier of drilling services to Australia’s coal and coal seam gas industries. It is also Australia’s largest builder of long distance gas pipelines. Other divisions provide gas management services to the coal and coal seam gas industry, construction, civil and property services.

www.lucas.com.au

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WA Spending $955 million To Drink Seawater

Wednesday, July 1st, 2009

Water Minister Graham Jacobs confirmed work on the new seawater desalination plant will begin within three weeks, following the signing of contracts today with the Spanish- led consortium that will build the $955 million project outside Binningup and operate it for 25 years. The companies making up the Southern SeaWater Alliance are Tecnicas Reunidas and Valoriza Agua with local companies AJ Lucas (AJL) and WorleyParsons (WOR).

The Water Corporation has a role within the alliance to ensure the delivery of the facility meets the long term needs for Western Australia’s sustainable water future. Dr Jacobs said the 2011 commissioning of the plant would not come a moment too soon to cater for the challenging immediate water situation, WA’s ongoing growth and the corporation’s ambition to reduce extraction from the Gnangara groundwater system.

“Events of the past month, culminating in a decision to impose a trial winter sprinkler ban underline the challenge we continue to face in meeting our water needs into the future,” he said. “The reality is that we must immediately reduce our water use and manage the Integrated Scheme through to our next major source – the output of this plant

“On top of that we have to plan for ongoing growth and the increasing fragility of the Gnangara Mound has made the Water Corporation determined to reduce its extraction as quickly as possible to a permanently sustainable level. “The key to achieving that highly desirable outcome is the commissioning of the new desalination plant on time in 2011.”

Dr Jacobs reiterated that renewable energy would be used to power the new facility. “The Water Corporation intends to purchase all the energy requirements and associated Renewable Energy Certificates for the Southern Seawater Desalination Plant from renewable energy generators,” he said. “Most will come from generators using proven renewable energy technologies. The corporation is also hoping to have a portion of the energy requirements purchased from renewable energy generators using technologies not yet commercially proven at this stage.”

www.worleyparsons.com

www.lucas.com.au

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