New option lets operators eliminate facility disposal liability

Some Gulf of Mexico operators have eliminated their well abandonment, facility-decommissioning liabilities by selling properties close to the end of their producing life to a company formed expressly for assuming those liabilities.This was the case when Maritech Resources Inc., a division of TETRA Technologies Inc., Houston, bought properties operated by Seneca Resources Corp. and Range Energy Ventures Corp. in Gulf of Mexico Block West Delta 32. These remaining structures in Block West Delta 32 still handle production while awaiting decommissioning (Fig. 1). Photo courtesy of TETRA Technologies Inc.Click here to enlarge imageIn 1999, TETRA formed Maritech as an exploitation and producti...

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