PODCAST: American Idle - decommissioning costs sink offshore drillers into latest crisis

14 August 2017

In this special episode of Debtwire Radio, we talk about a new Debtwire Investigations report looking at the growing threat posed by decommissioning liabilities to E&P companies in the Gulf of Mexico.

 

In this edition, Debtwire editor Jon Berke, reporter Alex Plough, and credit analyst Michael Coleman discuss how independent energy companies such as Fieldwood Energy are dealing with the growing backlog of unproductive assets on the books in the current depressed commodity price environment.

 

This specifically applies to a federal program—Idle Iron—which requires any platform on an active lease that has been unproductive for at least five years to be removed, in a process also known as decommissioning, while disused oil wells have to be plugged and abandoned.

 

CLICK HERE to listen to the podcast, recorded last Wednesday.
CLICK HERE to view the full investigative report.