Contents and Figures

List of Figures

List of Tables

Executive Summary

Introduction

1. Market Analysis

1.1 Summary
1.2 2014 Market Activity
1.3 2014 Market Review

2. Market Activity

2.1 Summary
2.2 Shallow Water vs. Deepwater
2.3 Shallow Water Installation Trends
2.4 Shallow Water Decommissioning Trends
2.5 Historical Activity
2.6 Active, Producing and Idle Inventory
2.7 Deepwater Activity

3. Shallow Water Inventory

3.1 Summary
3.2 Active and Idle Inventories
3.3 Decommissioning Exposure
3.4 NTL Structure and Well Inventory
3.5 Expired, Terminated and Relinquished Inventory

4. Deepwater Inventory

4.1 Summary
4.2 Active and Idle Inventories
4.3 NTL Structure and Well Inventory
4.4 Expired, Terminated and Relinquished Inventory

5. Rigs-to-Reef Programs

5.1 Summary
5.2 BSEE Waiver
5.3 Louisiana Artificial Reef Program
5.4 Texas Artificial Reef Program

6. Market Size

6.1 Summary
6.2 2014 Market Expenditures
6.3 2014 Decommissioning Exposure
6.4 2014 Market Expenditures

7. Market Transactions

7.1 Summary
7.2 Acquisitions and Divestitures
7.3 2014 Activity Summary
7.4 2014 Activity Recap

8. Regulatory Update

8.1 Summary
8.2 Rigs-to-Reef Policy Addendum
8.3 Rigs-to-Reef Interim Policy Document
8.4 NTL 2010-G05 Interim Recap

9. Market Forecast

9.1 Summary
9.2 Shallow Water Forecast
9.3 Deepwater Forecast

10. Conclusions

11. Methodology

11.1 Data Sources
11.2 Evaluation Period
11.3 Bottom-Up Approach
11.4 Top-Down Approach
11.5 Sample Selection

12. Corporate Structure

12.1 Parent and subsidiaries for all the companies in Report

13. Definitions

13.1 Business Organization
13.2 Decommissioning Operations
13.3 Functional Status
13.4 Infrastructure
13.5 Lease Status

Abbreviations

Endnotes

References

List of Figures

Figure 1. Gulf of Mexico decommissioning market segments circa 2015

Figure 2. Gulf of Mexico structures decommissioned and wells abandoned (2009-2014c)

Figure 3. Decommissioning spending in the Gulf of Mexico (2009-2014c)

Figure 4. Wells abandoned and structures decommissioned in the Gulf of Mexico (2000-2014c)

Figure 5. Decommissioning cost index in the shallow water Gulf of Mexico (2008-2013)

Figure 6. Shallow water decommissioning cost index decomposed by structure type (2008-2013)

Figure 7. Hurricane-destroyed infrastructure clean-up activity circa 2014

Figure 8. Deepwater fixed platforms and compliant towers in the Gulf of Mexico (2014c)

Figure 9. Gulf of Mexico Outer Continental Shelf hydrocarbon production (1947-2014c)

Figure 10. Gulf of Mexico Outer Continental Shelf oil production (1947-2014c)

Figure 11. Gulf of Mexico Outer Continental Shelf natural gas production (1947-2014c)

Figure 12. Brent and Henry Hub monthly average oil and gas prices (1984-2014)

Figure 13. Declining oil prices impact many corporate factors besides cash flows

Figure 14. Structures installed in the Gulf of Mexico in water depth less than 400 ft (1942-2014c)

Figure 15. Structures decommissioned in the Gulf of Mexico in water depth less than 400 ft (1973-2014c)

Figure 16. Bath-tub analogy for active inventory

Figure 17. Active structures in water depth less than 400 ft (1942-2014c)

Figure 18. Shallow water active inventory trendline (2000-2014c)

Figure 19. Active wells in water depth less than 400 ft (1942-2014c)

Figure 20. Hurricane destruction and structure clean-up activity

Figure 21. Hurricane destruction and well abandonment activity

Figure 22. Structures installed in the Gulf of Mexico in water depth greater than 400 ft (1978-2014c)

Figure 23. Active floating structures in the deepwater Gulf of Mexico (2014c)

Figure 24. Deepwater fixed platforms and floating structures decommissioned in the Gulf of Mexico (2014c)

Figure 25. Structures decommissioned in the Gulf of Mexico in water depth greater than 400 ft (1978-2014c)

Figure 26. Active structures in water depth greater than 400 ft (1978-2014c)

Figure 27. Active wells in water depth greater than 400 ft (1977-2014c)

Figure 28. Quarterly average decommissioning activity (2000-2014c)

Figure 29. Cumulative monthly decommissioning activity (2000-2014c)

Figure 30. Idle structure inventory in water depth less than 400 ft (2014c)

Figure 31. Idle well inventory in water depth less than 400 ft (2014c)

Figure 32. Shallow water decommissioning exposure by operator (2014)

Figure 33. Top 10 operators with NTL inventory in water depth less than 400 ft (2014c)

Figure 34. Active and producing subsea wells in water depth greater than 400 ft (1988-2014c)

Figure 35. Subsea well inventory in the Gulf of Mexico (2014c)

Figure 36. Subsea well abandonments in the Gulf of Mexico (2010-2014c)

Figure 37. Shallow water decommissioning exposure by owner (2014c)

Figure 38. Gulf of Mexico structure decommissioning forecast (2015-2019)

Figure 39. Active structure inventory forecast in water depth of less than 400 ft (2015-2019)

Figure 40. Manned and active structure inventory forecast in water depth of less than 400 ft (2015-2019)

Figure 41. Expected decommissioning schedule for deepwater fixed platforms (2015-2035)

Figure 42. Expected decommissioning schedule for floating structures (2023-2055)

List of Tables

Table 1. Gulf of Mexico decommissioning activity by water depth (2014c)

Table 2. Top 20 operators decommissioning activity (2014c)

Table 3. Top 20 operator decommissioning expenditures (2014c)

Table 4. Gulf of Mexico decommissioning activity by water depth (2013)

Table 5. Top 20 operators decommissioning activity (2013)

Table 6. Top 20 operator decommissioning expenditures (2013)

Table 7. Hurricane-destroyed infrastructure and clean-up activity circa 2014 (2004-2008)

Table 8. Structures installed by type and water depth (1942-2014c)

Table 9. Structures decommissioned by type and water depth (1973-2014c)

Table 10. Active structure inventory and stock changes (2005-2014c)

Table 11. Top 20 operators decommissioning activity (2005-2014c)

Table 12. Active structure inventory (2014c)

Table 13. Hurricane-destroyed structures and wells remaining to be decommissioned circa 2014

Table 14. Gulf of Mexico deepwater structure decommissioning

Table 15. Operator structure inventory in water depth less than 400 ft (2014c)

Table 16. Operator well inventory in water depth less than 400 ft (2014c)

Table 17. Shallow water decommissioning exposure by operator (2014c)

Table 18. Shallow water expired, terminated and relinquished lease infrastructure (2014c)

Table 19. Operator structure inventory in water depth greater than 400 ft (2014c)

Table 20. Operator well inventory in water depth greater than 400 ft (2014c)

Table 21. Deepwater expired, terminated and relinquished lease infrastructures (2014c)

Table 22. Producing structure inventory by water depth and structure type (2014c)

Table 23. LARP donated structures by year and deployment method (2009-2014c)

Table 24. LARP operator donations (2012-2014c)

Table 25. TARP donated structures by year and deployment method (2009-2014c)

Table 26. TARP operator donations (2012-2014c)

Table 27. Decommissioning expenditures by ownership position (2014c)

Table 28. Undiscounted decommissioning exposure by ownership position (2014c)

Table 29. Decommissioning expenditures by ownership position (2013)

Table 30. Gulf of Mexico operators and parent-subsidiary relations as of January 2015

 

If you have any questions about the report please contact:

Aleksandra Sledzinska
Aleksandra Sledzinska
Client Relationship Manager
Decomworld
+44 (0) 207 422 4332
asledzinska@decomworld.com