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Abandonment Cost
Abandonment costs or Abandonment expenditure (ABEX) are costs associated with the abandonment of a business venture. Abandonment costs traditionally applied to the process of abandoning an under-producing or non-producing oil or gas well. In that context, it means the removal of equipment, plugging of the well with cement, any environmental clean-up, etc. necessary to shut the well down. It is occasionally referred to as "Removal and Abandonment" or R & A. The objective of well abandonment is to ensure that no hydrocarbons leak into surface water or into the atmosphere. The cost of a routine abandonment of a typical well in the United States is about $5,000 (~Texas average cost in year 2000). If a well has developed a leak that allows gas to flow up the outside of the well casing, finding and correcting the leak can push the cost of abandonment beyond $100,000. Wells that have been used as injectors or have been subject to fracking operation are more likely to develop leaks becau ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Oil Well
An oil well is a drillhole boring in Earth that is designed to bring petroleum oil hydrocarbons to the surface. Usually some natural gas is released as associated petroleum gas along with the oil. A well that is designed to produce only gas may be termed a gas well. Wells are created by drilling down into an oil or gas reserve that is then mounted with an extraction device such as a pumpjack which allows extraction from the reserve. Creating the wells can be an expensive process, costing at least hundreds of thousands of dollars, and costing much more when in hard to reach areas, e.g., when creating offshore oil platforms. The process of modern drilling for wells first started in the 19th century, but was made more efficient with advances to oil drilling rigs during the 20th century. Wells are frequently sold or exchanged between different oil and gas companies as an asset – in large part because during falls in price of oil and gas, a well may be unproductive, but if pri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gas Well
An oil well is a drillhole boring in Earth that is designed to bring petroleum oil hydrocarbons to the surface. Usually some natural gas is released as associated petroleum gas along with the oil. A well that is designed to produce only gas may be termed a gas well. Wells are created by drilling down into an oil or gas reserve that is then mounted with an extraction device such as a pumpjack which allows extraction from the reserve. Creating the wells can be an expensive process, costing at least hundreds of thousands of dollars, and costing much more when in hard to reach areas, e.g., when creating offshore oil platforms. The process of modern drilling for wells first started in the 19th century, but was made more efficient with advances to oil drilling rigs during the 20th century. Wells are frequently sold or exchanged between different oil and gas companies as an asset – in large part because during falls in price of oil and gas, a well may be unproductive, but if ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cement
A cement is a binder, a chemical substance used for construction that sets, hardens, and adheres to other materials to bind them together. Cement is seldom used on its own, but rather to bind sand and gravel (aggregate) together. Cement mixed with fine aggregate produces mortar for masonry, or with sand and gravel, produces concrete. Concrete is the most widely used material in existence and is behind only water as the planet's most-consumed resource. Cements used in construction are usually inorganic, often lime or calcium silicate based, which can be characterized as hydraulic or the less common non-hydraulic, depending on the ability of the cement to set in the presence of water (see hydraulic and non-hydraulic lime plaster). Hydraulic cements (e.g., Portland cement) set and become adhesive through a chemical reaction between the dry ingredients and water. The chemical reaction results in mineral hydrates that are not very water-soluble and so are quite durable ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (U.S.A. or USA), commonly known as the United States (U.S. or US) or America, is a country primarily located in North America. It consists of 50 U.S. state, states, a Washington, D.C., federal district, five major unincorporated territories, nine United States Minor Outlying Islands, Minor Outlying Islands, and 326 Indian reservations. The United States is also in Compact of Free Association, free association with three Oceania, Pacific Island Sovereign state, sovereign states: the Federated States of Micronesia, the Marshall Islands, and the Palau, Republic of Palau. It is the world's List of countries and dependencies by area, third-largest country by both land and total area. It shares land borders Canada–United States border, with Canada to its north and Mexico–United States border, with Mexico to its south and has maritime borders with the Bahamas, Cuba, Russia, and other nations. With a population of over 333 million, it is the List of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Texas
Texas (, ; Spanish language, Spanish: ''Texas'', ''Tejas'') is a state in the South Central United States, South Central region of the United States. At 268,596 square miles (695,662 km2), and with more than 29.1 million residents in 2020, it is the second-largest U.S. state by both List of U.S. states and territories by area, area (after Alaska) and List of U.S. states and territories by population, population (after California). Texas shares borders with the states of Louisiana to the east, Arkansas to the northeast, Oklahoma to the north, New Mexico to the west, and the Mexico, Mexican States of Mexico, states of Chihuahua (state), Chihuahua, Coahuila, Nuevo León, and Tamaulipas to the south and southwest; and has a coastline with the Gulf of Mexico to the southeast. Houston is the List of cities in Texas by population, most populous city in Texas and the List of United States cities by population, fourth-largest in the U.S., while San Antonio is the second most pop ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hydraulic Fracturing
Fracking (also known as hydraulic fracturing, hydrofracturing, or hydrofracking) is a well stimulation technique involving the fracturing of bedrock formations by a pressurized liquid. The process involves the high-pressure injection of "fracking fluid" (primarily water, containing sand or other proppants suspended with the aid of thickening agents) into a wellbore to create cracks in the deep-rock formations through which natural gas, petroleum, and brine will flow more freely. When the hydraulic pressure is removed from the well, small grains of hydraulic fracturing proppants (either sand or aluminium oxide) hold the fractures open. Hydraulic fracturing began as an experiment in 1947, and the first commercially successful application followed in 1950. As of 2012, 2.5 million "frac jobs" had been performed worldwide on oil and gas wells, over one million of those within the U.S. Such treatment is generally necessary to achieve adequate flow rates in shale gas, tight ga ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Motors
The General Motors Company (GM) is an American Multinational corporation, multinational Automotive industry, automotive manufacturing company headquartered in Detroit, Michigan, United States. It is the largest automaker in the United States and was the largest in the world for 77 years before losing the top spot to Toyota in 2008. General Motors operates manufacturing plants in eight countries. Its four core automobile brands are Chevrolet, Buick, GMC (automobile), GMC, and Cadillac. It also holds interests in Chinese brands Wuling Motors and Baojun as well as DMAX (engines), DMAX via joint ventures. Additionally, GM also owns the BrightDrop delivery vehicle manufacturer, GM Defense, a namesake Defense vehicles division which produces military vehicles for the United States government and military; the vehicle safety, security, and information services provider OnStar; the auto parts company ACDelco, a GM Financial, namesake financial lending service; and majority ownership in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pontiac (automobile)
Pontiac or formally the Pontiac Motor Division of General Motors, was an American automobile brand owned, manufactured, and commercialized by General Motors. Introduced as a companion make for GM's more expensive line of Oakland automobiles, Pontiac overtook Oakland in popularity and supplanted its parent brand entirely by 1933. Sold in the United States, Canada, and Mexico by GM, in the hierarchy of GM's five divisions, it was slotted above Chevrolet, but below Oldsmobile, Buick, and Cadillac. Starting with the 1959 models, marketing was focused on selling the lifestyle that the car's ownership promised rather than the car itself. By emphasizing its "Wide Track" design, it billed itself as the "performance" division of General Motors, which "built excitement." Facing financial problems and restructuring efforts, GM announced in 2008 that it would follow the same path with Pontiac as it had with Oldsmobile in 2004. It would discontinue manufacturing and marketing vehicles und ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Saturn Corporation
The Saturn Corporation, also known as Saturn LLC, was an American automobile manufacturer, a registered trademark established on January 7, 1985, as a subsidiary of General Motors. The company was an attempt by GM to compete directly with Japanese imports and transplants, initially in the US compact car market. The brand marketed itself as a "different kind of car company" and operated quasi-independently from its parent company,—comprehensively introducing a new car, dealer network, pricing structure, workforce and independently managed manufacturing plant in Spring Hill, Tennessee. The first cars themselves launched five years after the company's inception, and they advanced GM's spaceframe construction—manifesting Saturn's market proposition with their dent-resistant polymer exterior panels. Over time, as Saturn drained resources from GM's extensive brand network and as GM struggled with the 2008 economic collapse, the parent company curtailed Saturn's development budg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Exit
In economics, free entry is a condition in which firms can freely enter the market for an economic good by establishing production and beginning to sell the product. The assumption of free entry implies that if there are firms earning excessively high profits in a given industry, new firms that also seek a high profit are likely to start to produce or change into a production of the same good to join the market. In such a case there are no barriers preventing a start-up firm from competing. Where an opportunity of a profit arises we assume that there will also be firms entering the market for the certain good and compete for it. In most markets this condition is present only in the long run. The assumption of free entry doesn't mean that a firm is simply able to set up a shop without any costs incurred. It is clear that the new entrant needs to gain the capital that they need for operating in the industry. Therefore, even with a free entry to a market the entrant still has to fa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Psychology Of Previous Investment
The "psychology of previous investment" was coined by James Howard Kunstler to describe the sunk costs of the modern urban/suburban lifestyle. It is the reluctance to abandon technologies and standards of urban infrastructure into which humans have already made substantial investments, and is seen as a major contributor to modern energy crises. See also * Abandonment cost *Sunk cost fallacy In economics and business decision-making, a sunk cost (also known as retrospective cost) is a cost that has already been incurred and cannot be recovered. Sunk costs are contrasted with '' prospective costs'', which are future costs that may be ... References The Psychology of Previous Investment - Raise the Hammer - Remarks on the subject from Kunstler's website [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
