Avoiding Environmental Remediation Through “Temporary” Closure

Jul 18, 2023

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This study examines the environmental impacts of temporary closure of inactive oil and gas wells and explores the real options available to operators, such as reactivation or abandonment. It assesses the risks of gas migration and drinking water contamination, as well as the management of Naturally Occurring Radioactive Material (NORM). The research draws on the works of Brennan and Schwartz (1985), Paddock Siegel and Smith (1988), Dixit and Pindyck (1994), Slade (2001), Mason (2001), Moll (2001), Moel and Tufano (2002) to evaluate the economic costs and benefits associated with each option.

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Avoiding Environmental Remediation Through “Temporary” Closure

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Avoiding Environmental Remediation Through “Temporary” Closure Lucija Muehlenbachs University of Maryland
Alberta: 350,273 oil and gas wells 42,000 are inactive Texas: 354,616 oil and gas wells 114,259 of which are “shut-in, depleted and are not expected to produce another barrel of oil”
Environmental Impacts Gas migration Drinking water contamination Naturally Occurring Radioactive Material

Real Options in Natural Resources Brennan and Schwartz (1985) Paddock, Siegel and Smith (1988) Dixit and Pindyck (1994) Slade (2001) Mason (2001) Moll (2001) Moel and Tufano (2002)