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Message
re: LSU Professor receives $3 million grant to research and plug methane-leaking oil wells
Posted on 10/1/23 at 6:05 pm to thejudge
Posted on 10/1/23 at 6:05 pm to thejudge
quote:
Orphan wells are no joke but studying flow rates leaving before and after won't be a small fee.
It is paid for with federal funds
1
Posted on 10/1/23 at 6:10 pm to ragincajun03
quote:
meaning oil companies have abandoned them for one reason or another, namely for not making money.
Pardon my ignorance, but why should taxpayers be on the hook for oil companies not cleaning up after themselves? Surely there are regulations in place to prevent them from leaving environmental hazards behind?
Posted on 10/1/23 at 6:35 pm to Bubb
quote:
Surely there are regulations in place to prevent them from leaving environmental hazards behind?
That’s the problem, they don’t. Some of these wells are from the early 1900’s and as recent as the 1970’s and nothing was in place to recover funds from oil companies that are no longer in business.
Posted on 10/1/23 at 8:49 pm to nolaTiger24
quote:
nothing was in place to recover funds from oil companies that are no longer in business.
There's a ton of families that got wealthy off wells that are now the taxpayers problem. Sucks but there's not much way of recouping that money.
Posted on 10/1/23 at 10:06 pm to thejudge
quote:
since the wetlands also emit methane
And now I no longer care about orphan oil wells that leak methane
Posted on 10/1/23 at 10:12 pm to Gee Grenouille
Dr. Gupta's the real deal. Great class
Posted on 10/2/23 at 5:57 am to ragincajun03
Just a drop in the bucket compared to what the taxpayers will fork out for bogus carbon capture.
Posted on 10/2/23 at 7:53 am to Sev09
quote:
It is paid for with federal funds
Which come from....
Posted on 10/2/23 at 8:04 am to ragincajun03
quote:
research and plug methane-leaking oil wells
Really no research to be done. They just need to go be plugged.
I would rather see industry professionals oversee this work than a professor. I'm sure they will end up hiring a consulting firm to do the engineering and only get 5 wells plugged with the $3MM, when realistically you could probably get 30-40 plugged with this money.
Posted on 10/2/23 at 8:17 am to ragincajun03
This reminded me of one of my accounting courses where we talked about “Plug and Abandonment” costs and how to account for them. One of my buddies goes “plug and abandon sounds like my Bogies strategy”. 
Posted on 10/2/23 at 9:38 am to RaginRampage
quote:
get 5 wells plugged with the $3MM, when realistically you could probably get 30-40 plugged with this money.
You think you can get these wells buttoned up for 75-100k per well? I doubt you could get a rig mobilized to the site for a day, much less fully plug and abandon it.
Posted on 10/2/23 at 10:32 am to Jon A thon
quote:
You think you can get these wells buttoned up for 75-100k per well? I doubt you could get a rig mobilized to the site for a day, much less fully plug and abandon it.
75-100k is extremely reasonable
Posted on 10/2/23 at 11:49 am to Jon A thon
Yes. As a lump sum turnkey bid. Assuming all wells are in the same field or nearby.
Posted on 10/2/23 at 11:59 am to X123F45
It’s liberal lunacy is all… let’s tax for natures farts…
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