• 4 minutes Is $60/Bbl WTI still considered a break even for Shale Oil
  • 7 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 11 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 15 minutes Wonders of Shale- Gas,bringing investments and jobs to the US
  • 12 hours Apartheid Is Still There: Post-apartheid South Africa Is World’s Most Unequal Country
  • 4 hours Visualizing How Much Oil Is In An Electric Vehicle (Hint: a heckuva lot)
  • 4 hours Theresa May to Step Down
  • 5 hours Look at the LONGER TERM bigger picture of international oil & gas. Ignore temporary hiccups.
  • 16 hours Total nonsense in climate debate
  • 16 hours IRAN makes threats, rattles sabre . . . . U.S. makes threats, rattles sabre . . . . IRAQ steps up and plays the mediator. THIS ALLOWS BOTH SIDES TO "SAVE FACE". Then serious negotiations start.
  • 15 hours Evil Awakens: Fascist Symbols And Rhetoric On Rise In Italian EU Vote
  • 19 hours Will Canada drop Liberals, vote in Conservatives?
  • 19 hours Trump needs to educate US companies and citizens on Chinese Communist Party and People's Liberation Army. This is real ECONOMIC WARFARE. To understand Chinese warfare read General Sun Tzu's "Art of War" . . . written 500 B.C.
  • 19 hours Canada's Uncivil Oil War : 78% of Voters Cite *Energy* as the Top Issue
  • 15 hours Apple Boycott in China
  • 11 hours Australian Voters Reject 'Climate Change' Politicians
  • 2 hours Why is Strait of Hormuz the World's Most Important Oil Artery
The Trade War Is Transforming Oil Markets

The Trade War Is Transforming Oil Markets

China-US trade talks have exposed…

The Oil Price Tug Of War

The Oil Price Tug Of War

Oil markets have been relatively…

Creating Artificial Reefs from Old Oil Rigs

One problem that oil companies suffer from, and which most people may not have actually considered before, is what to do with old drilling rigs and platforms.

Once upon a time they were just abandoned, but with federal regulators bearing down on the energy companies and ensuring that drill rig equipment is not abandoned, the operators must look for new solutions.

One such solution that is becoming popular in some states is the Rigs-to-Reef program, where parts of old gas and oil rigs are placed underwater in certain designated sites in the Gulf of Mexico.

Related article: Deeper & Smarter: The Subsea Oil & Gas Growth Outlook

Conservationists have said that the underwater rigs act as artificial reefs and provide good homes for fish, corals, mussels, and other underwater creatures. Drew Hunger, the decommissioning manager for Apache Corporation (NYSE: APA), who also runs the company’s rigs-to-reefs program, said that the rigs “will last in underwater reefs for a very long time.”

The program provides an option to the energy companies that will rid them of the unwanted rig equipment whilst at the same time saving them money, and has no negative environmental impact. The Texas Parks and Wildlife Department has been running a similar program since 1990 and estimates that companies involved have saved as much as $400,000 per rig.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News