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Started By
Message
Question About Relief Well, Liability and Cash
Posted on 7/13/10 at 7:02 am
Posted on 7/13/10 at 7:02 am
We all know that BP is on the hook for multi-billions of dollars for the spill and cleanup. I wonder how much money BP will earn once the relief well goes into production. Is it possible that they will actually come out ahead once all is said and done?
4
Posted on 7/13/10 at 7:26 am to MSTiger33
quote:
Is it possible that they will actually come out ahead once all is said and done?
Man, i hope so.
Posted on 7/13/10 at 7:29 am to MSTiger33
quote:
relief well goes into production
Posted on 7/13/10 at 7:30 am to MSTiger33
I thought at one point I heard that they weren't going to be producing from that field. Did I dream that up?
Posted on 7/13/10 at 7:31 am to BROffshoreTigerFan
they can still produce from the reservoir, but not from this well. once the relief well is complete, it will be utterly useless. no telling when they will be able to drill another.
Posted on 7/13/10 at 7:33 am to halleburton
quote:
they can still produce from the reservoir, but not from this well. once the relief well is complete, it will be utterly useless. no telling when they will be able to drill another.
they will cement this well bore and then probably kick off later on to tap into the reservoir once again.
Posted on 7/13/10 at 7:39 am to MSTiger33
Is this a real question?
This whole dealio might cost them $50 to $75 billion before it is done and their company stock has taken a huge hit. They are considering selling assets.
This whole dealio might cost them $50 to $75 billion before it is done and their company stock has taken a huge hit. They are considering selling assets.
This post was edited on 7/13/10 at 7:42 am
Posted on 7/13/10 at 7:43 am to notiger1997
quote:
they will cement this well bore and then probably kick off later on to tap into the reservoir once again.
I believe they are required to permanently abandon the relief well after it kills the blowout. Now the second relief well may be used as a future producer if this field can still support development.
Posted on 7/13/10 at 7:48 am to lsugradman
I dont see why they don't produce the second relief and be required to turn every cent of production from the well over to fund teh cleanup and other expenses.
Posted on 7/13/10 at 7:56 am to the LSUSaint
Because its not that easy just to produce a well/field. Costs alot of money. If there isnt a substantial volume of reserves still recoverable from this field then the operation could easily lose millions instead of generating a profit.
Posted on 7/13/10 at 7:58 am to lsugradman
the blowout well will not be used again. turning the relief wells into producers is possible, but there are a variety of technical and economic factors that play into it.
a relief well could potentially be used again at a later date. this could be done by executing a sidetrack, where some lower portion of the well is permanently abandoned w/ cement plugs and other mechanical devices, then a new wellbore is kicked off and drilled out of the existing wellbore. the feasibility of this depends both on the size and shape of the reservoir, the relief well casing design, and how far away from the blowout well the sidetrack well can go.
another factor in this is the surface location of the relief well(s). typically, subsea developments have the surface locations of the wellheads relatively close to one another, oriented around a manifold to which they are all tied together. the wells are usually oriented in a pattern around the manifold on a spacing of 75' - 150' (this depends on water depth, equipment spec, etc). trying to tie in a bunch of wells spaced out all over a field is quite a bit more costly, and is often done when there's no real alternative.
as to whether BP will come out ahead? there's just too many outside factors to even make an educated guess. it's certaintly possible, but you need to know a lot more about the development plan to even venture a guess.
a relief well could potentially be used again at a later date. this could be done by executing a sidetrack, where some lower portion of the well is permanently abandoned w/ cement plugs and other mechanical devices, then a new wellbore is kicked off and drilled out of the existing wellbore. the feasibility of this depends both on the size and shape of the reservoir, the relief well casing design, and how far away from the blowout well the sidetrack well can go.
another factor in this is the surface location of the relief well(s). typically, subsea developments have the surface locations of the wellheads relatively close to one another, oriented around a manifold to which they are all tied together. the wells are usually oriented in a pattern around the manifold on a spacing of 75' - 150' (this depends on water depth, equipment spec, etc). trying to tie in a bunch of wells spaced out all over a field is quite a bit more costly, and is often done when there's no real alternative.
as to whether BP will come out ahead? there's just too many outside factors to even make an educated guess. it's certaintly possible, but you need to know a lot more about the development plan to even venture a guess.
This post was edited on 7/13/10 at 8:10 am
Posted on 7/13/10 at 11:50 am to halleburton
quote:
halleburton
MSTiger33 =/= shite about oil production
That is why I asked. I thought the whole point of the relief well was to relieve pressure and bring oil up from that end. Am I wrong?
Posted on 7/13/10 at 12:47 pm to MSTiger33
quote:
Am I wrong?
I thought the relief well was to allow them another option for shoving mud, etc, in the well to plug it up. Of course I don't know much either.
Posted on 7/13/10 at 1:45 pm to notiger1997
quote:
I thought the whole point of the relief well was to relieve pressure and bring oil up from that end.
No, the relief well's purpose is to neutralize the pressure imbalance between the well and the reservoir by pumping heavy mud into the annulus/casing/formation. This should "kill" the flow of hydrocarbons from the well. Then a cement slurry (probably a shitload of cement) will be pumped down to effectively plug the blownout well.
Posted on 7/13/10 at 3:20 pm to lsugradman
A lot of people have been struggling with that terminology. Someone proposed that the relief well ought to be called a kill well. That would be more accurate but for some reason they are called relief wells in the industry.
Also keep in mind that the flow could be in the annulus, inside the casing or both. In the latter case, they would need to first cement the annulus who knows how far up the borehole, then mill into the casing, dump kill mud into that until the flow ceases and then cement the interior of the casing. So it may take two shitloads of cement. Metric ones. Also this is why they won't come off of their mid-August date. If they have to kill and cement twice, it could easily take that long.
Also keep in mind that the flow could be in the annulus, inside the casing or both. In the latter case, they would need to first cement the annulus who knows how far up the borehole, then mill into the casing, dump kill mud into that until the flow ceases and then cement the interior of the casing. So it may take two shitloads of cement. Metric ones. Also this is why they won't come off of their mid-August date. If they have to kill and cement twice, it could easily take that long.
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