The testing programs on this well encountered unexpected third-party delays while waiting for the necessary equipment to complete the work; demand for well service equipment in the Sichuan Basin is steadily increasing along with the demand for natural gas.It has been recently reported that major multi-national energy companies have high expectations for unconventional gas in China, including tight-gas and shale-gas, and they are ramping up their investment and activity in the region. This activity has put some pressure on the timely availability of equipment in the area. Potentially adding to this demand for equipment, China is reportedly in the process of drafting policies and incentives to encourage development of unconventional gas plays in support of its stated goal to increase the use of cleaner-burning fuels.
Ivanhoe Energy Inc. - Xu-5 Zone At Zitong-1 Flows Gas At Significant Pressure
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