The Gulf of Mexico is packed with abandoned oil wells from a host of companies including BP, according to an investigation by Associated Press, which describes the area as “an environmental minefield that has been ignored for decades”.
Original AP Article: AP IMPACT: Gulf awash in 27,000 abandoned wells
“This 1948 review, prepared for the oil industry’s main trade group, the American Petroleum Institute, continues to torment the industry in litigation alleging benzene can cause various types of leukemia and other diseases of the blood-forming organs. In essence, it says the chemical is so potent that there is no safe exposure level.”
Just a little website i just found. Who ever did it seems to be passionate about the problem. Links tons of SPE documents.
“Returns to Nowhere: Oil and gas companies used to make huge returns on capital but life has gotten much more difficult.”
“Rig productivity and drilling efficiency are red herrings. A red herring is something that takes attention away from a more important subject. Rig productivity and drilling efficiency distract from the truth that tight oil producers are losing money at low oil prices.”
“Arthur E. Berman is a geological consultant with thirty-seven years of experience in petroleum exploration and production. He currently is consulting for several E&P companies and capital groups in the energy sector. He frequently gives keynote addresses for investment conferences, boards of directors and professional societies. He is often interviewed about energy topics on television, radio, and national print and web publications including CNBC, CNN, CBC, BNN, OilPrice.com, Bloomberg, Platt’s, Financial Times, and New York Times.He is a Director of ASPO-USA (Association for the Study of Peak Oil & Gas USA). He was a Managing Director and frequent contributor at The Oil Drum, and is an associate editor of the AAPG (American Association of Petroleum Geologists) Bulletin. He was past Editor of the Houston Geological Society Bulletin (2004-2005) and past Vice-President of the Society (2008-2009).He has published more than 100 articles on geology, technology, and the petroleum industry during the past 5 years. Publication topics include petroleum exploration, oil and gas price trends and cycles, petroleum play evaluation, sequence stratigraphy, coastal subsidence, earthquakes, tsunamis, and petroleum geopolitics. He has published more than 20 articles and reports on shale gas plays including the Barnett, Haynesville, Fayetteville, Marcellus, Bakken and Eagle Ford shales.During the past four years, he has made more than 50 presentations to energy sector boards of directors and executive committees, financial analyst conferences, oil & gas association meetings, and engineering and geological society meetings. He worked 20 years from Amoco Corporation (now BP p.l.c.) and has been an independent consulting geologist for 17 years.He has an M.S. (Geology) from the Colorado School of Mines and a B.A. (History) from Amherst College.”