BOEMRE..."3500 unused Gulf wells must be plugged"

[c.captain]

WASHINGTON — Oil and gas companies operating in the Gulf of Mexico will have to permanently plug nearly 3,500 temporarily abandoned wells and dismantle about 650 production platforms that are no longer used, the Obama administration announced Wednesday.

remainder at:

http://www.marinelog.com/DOCS/NEWSMM...0sep00163.html

My take on this announcement is that it is a fabulous job creator for GoM mariners...think of all the rigs it will take to cement all those wells and crane barges to remove all the abandoned platforms? At least a hundred of them and if they also have to recover the abandoned pipelines, then another hundred yet. A huge work backlog for DSV and heavylift operators.

Let's just hope that the owners of these wells and platforms don't weasel their way out of doing what they were supposed to have done already and that they don't come up with another excuse to use foreign vessels and foreign labor!

[CaptAndrew]

This should be a boost for the whole OSV business, though I agree the lions share will probably be the larger vessels. This could be (wishful thinking) the rescue of our business. I admit I got a little excited at the prospect when I heard it.

[CoastalTrader]

This should be a boost for the whole OSV business, though I agree the lions share will probably be the larger vessels. This could be (wishful thinking) the rescue of our business. I admit I got a little excited at the prospect when I heard it.

I thought the same thing and at first blush it does seem good. But then I thought about it -- and the cost.

Many of these wells/platforms have changed hands several times over the years. It wouldn't surprise me a bit to see questions arise as to who IS the true owner. Much like the situation we are seeing with the mortage foreclosures. If it were my well, I'd "lose" the assets somewhere and let the regulation bankrupt me.

[ponchojuarez]

i don't get it