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Started By
Message
re: Taylor Energy and 14 years of leaking oil
Posted on 2/15/19 at 12:43 pm to Bullfrog
Posted on 2/15/19 at 12:43 pm to Bullfrog
quote:
So say 20,000 BBL/ day
Times $55 per barrel
Comes to $1,100,000 lost revenue per day
Something does not add up.
That’s $401,500,000 lost revenue a year.
Times 14 years = A lot of money
No, 10,500 - 29,000 Gallons p/day....not bbls.
On the high side, that’s roughly $38,000 per day. 13.8 million a year. Still a lot of money, but nowhere near 400 million per year.
2
Posted on 2/15/19 at 12:55 pm to Gigoleaux
(no message)
This post was edited on 1/21/20 at 9:15 am
Posted on 2/15/19 at 12:56 pm to LSUFanHouston
29k gallons per day = 527 barrels
@$50/barrel = $26.35k/day max
Equals about $9.15 million per year
@$50/barrel = $26.35k/day max
Equals about $9.15 million per year
Posted on 2/15/19 at 12:58 pm to udtiger
I wish I could afford to piss away $9M a year.
Posted on 2/15/19 at 12:59 pm to BILLFISHER22
Thanks Bill.
Trying to multitask and it wasn’t working.
Trying to multitask and it wasn’t working.
Posted on 2/15/19 at 1:00 pm to LSUFanHouston
Drill baby drill
Posted on 2/15/19 at 1:02 pm to LongueCarabine
quote:
Taylor Energy and 14 years of leaking oil
I wish I could afford to piss away $9M a year.
It's not like they're losing it or it is costing them $9m/yr. Its the exact same thing as just not getting $9mil/yr if it were available to you. If you never had it you don't care about losing it. It isn't costing them anything right now and it sounds like it would cost them much more than that to go down there and capture it.
Posted on 2/15/19 at 1:03 pm to BILLFISHER22
You can definitely smell and sometimes see a sheen when you pass by it.
Posted on 2/15/19 at 1:34 pm to LongueCarabine
quote:
I wish I could afford to piss away $9M a year.
9 million/year into 1 billion is over 111 years.
That's why they are fighting it.
Posted on 2/15/19 at 1:38 pm to udtiger
If there is that much oil leaking, why isn't it worth while for a another company to put new wells there?
Posted on 2/15/19 at 2:09 pm to Kingpenm3
Taylor energy was bought by koreans after pat died.
My company built the porch that will be connected to the jacket to catch the leaking oil. They will be able to tell how much oil has been leaking for all these years.
My company built the porch that will be connected to the jacket to catch the leaking oil. They will be able to tell how much oil has been leaking for all these years.
Posted on 2/15/19 at 2:11 pm to LSUFanHouston
A few points that need to be made.
1) Crude oil naturally seeps from the seafloor all the time.
2) The amount of remaining seepage IS the issue that’s being debated. Taylor has expert testimony that alleges the remaining seepage is equivalent to natural seepeage.
4) The technology needed to estimate these things is complicated and only a few companies have the expertise to give an educated guess on the subject.
5) The company chosen by the Coast Guard, Couvillion, is alleged to be a brother-in-law deal and don’t have any expertise in with this. The court ruling is a defacto blank check for this company for unending monitoring, sapping from the money available to actually do clean up once the source and amount of seepage is discovered.
1) Crude oil naturally seeps from the seafloor all the time.
2) The amount of remaining seepage IS the issue that’s being debated. Taylor has expert testimony that alleges the remaining seepage is equivalent to natural seepeage.
4) The technology needed to estimate these things is complicated and only a few companies have the expertise to give an educated guess on the subject.
5) The company chosen by the Coast Guard, Couvillion, is alleged to be a brother-in-law deal and don’t have any expertise in with this. The court ruling is a defacto blank check for this company for unending monitoring, sapping from the money available to actually do clean up once the source and amount of seepage is discovered.
Posted on 2/15/19 at 2:20 pm to Jimbeaux
I talked to a couple of BSEE guys inspecting the porch who say they have no clue how much oil has been spilling. One of them has been on this since the beginning. Oceaneering will be installing soon if they haven't already.
Posted on 2/15/19 at 3:32 pm to udtiger
quote:
29k gallons per day = 527 barrels
@$50/barrel = $26.35k/day max
Equals about $9.15 million per year
An oilfield barrel is 42 gallons per bbl, not 55. Not trying to be an arse, just passing info.
Posted on 2/15/19 at 3:58 pm to BILLFISHER22
quote:
An oilfield barrel is 42 gallons per bbl, not 55. Not trying to be an arse, just passing info.
No problem. I prefer to be accurate and that's an interesting fact.
@ 42 gallons per barrel = 690 barrels (29000 gallons)
at $50/barrel, that's $34,500.0/day and $12,592,500/year.
It would take 79.41 years to hit a billion.
Posted on 2/15/19 at 5:08 pm to LSUFanHouston
quote:
leaking oil
Posted on 2/15/19 at 5:23 pm to Jimbeaux
Thanks Jimbeaux for the only informative post in here.
Taylor has spent $100s of millions trying to plug wells that are buried under 100’s of feet of mud from a mudslide. They have have developed new and revolutionary technologies as part of that quest. Their agreement with government was to exhaust all reasonable alternatives, that they have done. There are still hundreds of millions of Taylor funds in escrow, because the government will not acknowledge they have done all they could.
Taylor has spent $100s of millions trying to plug wells that are buried under 100’s of feet of mud from a mudslide. They have have developed new and revolutionary technologies as part of that quest. Their agreement with government was to exhaust all reasonable alternatives, that they have done. There are still hundreds of millions of Taylor funds in escrow, because the government will not acknowledge they have done all they could.
Posted on 2/15/19 at 5:45 pm to LSUFanHouston
Well, whoever owned it then has probably gotten their money and left.
Posted on 2/15/19 at 6:34 pm to ecb
quote:
There are still hundreds of millions of Taylor funds in escrow, because the government will not acknowledge they have done all they could.
Tough shite. Job isn't done.
Offshore oil production is a very lucrative business with a large amount of risk. Everyone knows that going into this deal.
Spend the escrow money on this. When that runs out, then let's talk.
Posted on 2/15/19 at 6:35 pm to udtiger
quote:
It would take 79.41 years to hit a billion.
Which is why the company is stalling and fighting. I get it. They need to look after their best interests.
But someone needs to hold them responsible.
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