Feds create boom times for decommissioning companies ///
The government taketh and the government also giveth, or so it would seem in widely different quarters of the Gulf of Mexico. On one end, operators struggle to recover from the federally imposed offshore drilling moratorium, while at the other end of the spectrum, another government decree has helped germinate a thriving business.
As rigs return to actually drilling wells, companies leveraged heavily in the removal of non-producing platforms find themselves in a regional market that some analysts have valued at up to $600 million, and which shows no signs of declining anytime soon. Owing in no small part to a late 2010 federal regulation, operators have a comparatively small window in which to plug and abandon (P&A) wells, and subsequently decommission platforms that have outlived their productive life. The regulation, in turn, has helped generate a boom for home-grown companies that specialize in the removal of structures and seabed debris.
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