GULF UPDATE—1: Gulf of Mexico P&A costs begin to recover from 2005 hurricanes

12/03/2007
In the aftermath of the widespread hurricane destruction in the Gulf of Mexico in 2005, the cost of operations dramatically increased with increased demand for support services, but market conditions appear to be slowly reverting to prehurricane conditions.This article reports on an assessment of trends in plug and abandonment costs in the US Gulf of Mexico 2002-07, based on a sample of 1,156 wells performed by Tetra Applied Technologies LP. It summarizes descriptive statistics and investigates the impact of scale economies. In addition, the article constructs relations that estimate the cost of P&A activities based on the number of wells in a job and the number of days of service.Kai...
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