Friday, April 29, 2011

Petroleum Goodies: Abandonment Costs

Petroleum Goodies: Abandonment Costs


Abandonment Costs

Posted: 29 Apr 2011 10:00 AM PDT

Abandonment Costs: The expenses related to abandoning a well or production facility. Such costs are specified by the authority for expenditure (AFE), and typically cover the plugging of wells; removing of well instruments, producing tanks and related installations; and surface removal.

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