Quote:
Originally Posted by Cimarron29414
I have to agree that these Senate hearings feel premature. It's been a long time since I watch a government hearing and thought, "Now we're getting somewhere!"
rb -
So the well was capped with cement. The cement didn't hold and the BOP didn't hold? This is sort of besides the point but, why would they cap a well which is capable of producing so much oil? In your readings, have you found the reason for capping it?
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For capping productive wells, I can't speak about underwater oil, but the explosion in the natural gas exploration around here has caused me to learn more than I ever wanted to know. With natural gas they move equipment around to get the most out of it. If the current supply is being met and opening a new well requires new equipment then buying new equipment wastes money. Buying a new rig, then letting an older, functional rig sit once the well it's on runs dry is not as cost effective as waiting till the well runs dry and using the older rig until it falls to pieces. The costs to open a well are more or less fixed (not likely to differ significantly in the near future) and the equipment is slightly different, so they cap wells until the equipment is freed to utilize the well.