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California Dreaming: A Look at Current and Future Orphan Well Liabilities
March 12 @ 12:30 pm EDT
Join us on February 20, 2025 at 12:30PM EST for a technical webinar regarding current and future Orphan Well Liabilities.
Presentation Description
Background/Objectives
The oil and gas industry in the US has diverged into two industries. The first is a new industry with a focus on unconventional plays, where there are high-returns and running-room for growth and sustained cashflow. The second industry is mature and conventional with older assets and focused on extending productive life and margins.
Approach/Activities
This presentation looks at the state of the onshore oil and gas industry as a whole and then examines a mature section of the industry in California. Public data and excerpts from several publications will illustrate the potential shortfall in operator and public funds to cover the full asset retirement obligation in this section of the industry.
Results/Lessons Learned
The oil and gas industry must plan for asset retirement obligations either through voluntary
saving or through regulatory action to prevent marginal and idle wells from becoming orphan.
Several state and federal programs are taking proactive steps to reduce this risk.
Presenter
Kyle Metz– Kyle is a geologist with 15 years of exploration and development experience generating prospects and drilling wells from California to Kurdistan, Iraq. His current focus is on orphan well plugging projects with Parsons.
To Join The Webinar
Join on your computer, mobile app or room device: Click here to join the meeting.
Phone Conference ID: 283 809 856 598
Passcode: Pb3Lq3qN
Please visit the Parsons YouTube channel where video recordings of our previous technical webinars are available for viewing.
