HYDROFRACKING. The scope and magnitude of the process, inland marine exposures/issues, and community impact. MatthewsDaniel Houston
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1 HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues, and community impact. MatthewsDaniel Houston
2 Personal Background Daniel C. Dan Mason Bachelor of Science in Petroleum Engineering, The University of Texas, years of oil & gas experience 12+ years of oil & gas well operations experience in Drilling planning and execution; Production management and well workover; and, Facility maintenance and construction. 13+ years of onshore and offshore energy claims adjusting experience Well control / underground crossflow; Offshore structures; Property / oilfield equipment; Upstream facilities; and, Handy with power tools. HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 2
3 Company Background MatthewsDaniel is an international energy (onshore, offshore & marine) insurance claim adjusting & surveying company. I work in the Loss Department, adjusting claims. Claims we are typically assigned to review include: Physical Damage / Hull & Machinery / Cargo Operator s Extra Expense General Liability Business Interruption Loss of Production Income Loss of Hire We will briefly describe each of these claim types. HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 3
4 OBJECTIVES To discuss energy claims which may arise for the Inland Marine Insurer, with emphasis on Physical Damage / Hull & Machinery Operator s Extra Expense Drilling Operations Onshore Drilling Hydraulic Fracturing Process Concerns MatDan Claims Experience To address your questions HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 4
5 Energy Insurance Adjusting / Surveying Energy Claims MatthewsDaniel Houston HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 5
6 HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 6
7 Physical Damage / Hull & Machinery Typically, we receive claims for Named Peril or All Risks coverage Named Peril requires transpiry of a peril named in Policy All Risks provides cover, except where excluded in Policy. Replacement Value v. Actual Cash Value (ACV). Limits per Scheduled Value in Policy for assets. Subject to a per incident Deductible/Retention/Excess. Named Windstorm coverage available. When a major Gulf of Mexico hurricane makes landfall in Mississippi, Louisiana or Texas, we usually get very busy! Offshore, inland marine and onshore assets are all at risk during the passage of a hurricane. HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 7
8 Collapse of an Offshore Production Platform HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 8
9 Fire Damage to MODU Drilling Package HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 9
10 Barge / Tug Allision with Pipeline HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 10
11 Barge / Tug Allision with Pipeline HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 11
12 Operator s Extra Expense or Control of Well insurance. Provides a package of coverage for well operation control incidents. Provides cover for the following costs: Control of Well control a well out of control per provisions Restoration / Redrill resulting from well out of control Seepage & Pollution resulting from a well out of control Possible Endorsements: Care, Custody & Control, Evacuation Expenses, Turnkey Drilling, Making Wells Safe Limit(s) as described in the Declarations, per incident. Subject to a per incident Deductible/Retention/Excess. Subject to Due Diligence, Warranty, and Exclusions provisions in the Policy. HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 12
13 Well Control / Barge Rig Damage HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 13
14 General Liability Separate insurance policy to protect the Operator or ship owner from claims (and/or lawsuits) from third parties. When a liability claim is made, the insurance carrier has the duty (and right) to defend the insured. We do not frequently receive these claims, but are well suited to provide valuable technical assistance to Insurers. HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 14
15 Oil spill containment boom HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 15
16 Business Interruption (BI) Provides compensation to the Operator / Vessel Owner for a shortfall in the ability of the asset / facility to earn income, as a result of a Named Peril (i.e. Physical Damage, etc.) Typically subject to a Waiting Period number of days before BI cover will commence. BI coverage specifies a Limit value. Expediting / Mitigation Costs may be applicable. Typically a very complex calculation which evaluates preincident & post-incident costs and income. The Adjuster (and / or a forensic accounting firm) will typically review the circumstances, calculate costs and income, and apply Policy provisions to calculate a potential claim amount. HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 16
17 HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 17
18 Loss of Production Income (LOPI) Provides compensation to the Operator of a well if the well is not able to produce as a result of a Named Peril. Typically subject to a Waiting Period number of days before LOPI cover will commence. LOPI coverage typically provides an agreed upon value (per unit) for the production shortfall, for a specified Limit of days. Expediting / Mitigation Costs may be applicable. The Adjuster will typically review the production data, calculate the production shortfall, apply Policy waiting periods and agreed unit values to arrive at potential claim. HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 18
19 A Typical Loss of Production Income (LOPI) claim Damage to the production facilities resulting from a Physical Damage claim has left the well incapable of production for an extended period. Considerations: Could some other operations restore production sooner to decrease (or prevent) the LOPI claim? Due diligence to restore operations ASAP? Loss of Production Income (LOPI) coverage is subject to a 30-day Waiting Period with a Daily Amount not to exceed US$ 30,000 per day for a maximum duration of 360 days. There was no partial production. The well was not able to be produced for 78 days. Hence, the Loss of Production Income claim would be calculated to be US$ 1,440,000, as follows: Gross Loss of Production Income Claim (78 US$ 30,000/day) US$ 2,340,000 Less: Waiting Period (30 US$ 30,000/day) (900,000) Calculated Net Loss of Production Income Claim US$ 1,440,000 HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 19
20 Well Intervention Operations, Inland Waters HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 20
21 Loss of Hire (LoH) Provides compensation to the Operator / Vessel Owner if the asset is not able to earn it s daily rate, as a result of a Named Peril (i.e. Physical Damage, for example) Typically subject to a Waiting Period number of days before LoH cover will commence. LOPI coverage typically provides an agreed upon daily rate, for a specified Limit of days. Expediting / Mitigation Costs may be applicable. A LoH claim is possible even if the Physical Damage claim is nil. The Adjuster will typically review the circumstances, calculate the days out of service excess of the Policy waiting period, apply daily rates per Policy to arrive at the potential claim. HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 21
22 A Typical Loss of Hire (LoH) claim Severe damage to the pedestal crane located on the barge rig has suffered significant damage. The duration of repairs to the crane will make the rig incapable of returning to work for an extended period. Considerations: Could some other operations restore rig operations sooner to decrease the LoH claim? Could another crane be rented? Due diligence to restore operations ASAP? Consult with the Insuring Conditions and Exclusions in Policy. Loss of Hire (LoH) coverage, in this instance, is subject to a 30-day Waiting Period with a Daily Amount not to exceed US$50,000 per day for a maximum duration of 360 days. The well was not able to be produced for 35 days. Hence, the Loss of Production Income claim would be calculated to be US$ 250,000, as follows: Gross Loss of Hire Claim (35 US$ 50,000/day) US$ 1,750,000 Less: Waiting Period (30 US$ 50,000/day) (1,500,000) Calculated Net Loss of Hire Claim US$ 250,000 HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 22
23 Lift Boat Capsize HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 23
24 We note In each of the above situations, we evaluate the situation, closely review Policies and Schedules applicable to the property in question, and quantify the potential claim, subject to Insurer s coverage determination. Coverage determinations are reserved only for Insurers. HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 24
25 Shale Drilling / Fracking Now we focus on shale drilling in the United States, and how that might involve an Operator s Extra Expense Policy. We have been the Adjuster on claims where Inland Marine Underwriters formed part of the Policy Security. HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 25
26 Shale Horizontal Drilling Incidents with Shale Wells MatthewsDaniel Houston HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 26
27 Case #1: Wellhead leaking during hydraulic fracture treatments A leak developed between flanges of the tubinghead and lower master valve during the hydraulic fracture treatment. Once the leak started, there was no way to shut off the flow with surface equipment. Actions Environmental Tighten the leaking flange bolts. Pump gunk squeezes. Stop the well flow to change-out wellhead equipment, using: Mechanical plug; and / or, Kill mud / cement plug. Frac water leaked from the well and flowed from the wellsite pad. Frac water crossed a cattle pasture, then to a creek and river. Potential Gross Cost US$ 15,300,000 (100%), of that > US$ 6,000,000 (100%) may be environmental (much environmental sampling, reporting to Agencies, Attorneys, etc.) HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 27
28 Case #2: Casing failure during hydraulic fracture treatments The intermediate casing burst near the surface of the well during the hydraulic fracture treatment. Treating pressure increased unexpectedly during the fracking operation. The flow from the intermediate casing eroded a hole through the surface casing, then the flow came to the surface near the well. Actions Environmental Shut down pumps; mobilize coiled tubing to the location. Circulate kill mud within the wellbore; set mechanical or cement plug(s). Evaluate the casing condition; repair or plug and abandon the wellbore. Underground breech transpired at a depth near potable water formations. Soil samples were evaluated; contaminated soil removed to off-site remediation. Water monitoring wells were drilled, per agreement with the regulatory authorities; the sampling regimen was decided and implemented. Potential Gross Cost US$ 6,700,000 (100%), of that US$ 750,000 (100%) was environmental related. * approx US$ 2,200,000 Restoration adjusted damage prior to incident. HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 28
29 Case #3: Casing failure during production / flowback The production casing in a well was installed and a multi-stage hydraulic fracture treatment was completed. During flowback operations, the production casing burst within the well and flow traveled to surface between intermediate and production casings, then, through a casing head valve. Well control specialists were dispatched to assist. The well flow eventually bridged. Actions Environmental Identify depth of damaged casing; evaluate condition, then Repair damaged casing by back-off and install new from surface, or install patch. Or, plug and abandon the well. Spray / mist of light hydrocarbons ejected from well; liquids contained to the well pad site / reserve pit. Water/oil mixture collected on the well site for disposal. Potential Gross Cost US$ 13,000,000 (100%), of that US$ 250,000 (100%) was environmental related. (claim involved restoration of existing well, abandonment, drilling of new well) HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 29
30 Case #4: Behind-pipe crossflow discovered during drilling operation The production casing in a well was installed but the hydraulic fracture treatment had not been performed. The drilling rig was skidded-over to commence a new well. While drilling in the new well at a very shallow depth, the new well began to flow fresh water and gas. Well control specialists were dispatched. Diagnostics indicated flow origin from the other completed well. Wireline operations indicated flow from a potentially productive interval behind the intermediate casing. Actions Environmental Identify depths from where crossflow is transpiring; pump mud & cement to control: Repair damaged casing by back-off and install new from surface, install patch, or, plug and abandon the well / redrill. Fresh water with gas ejected from well. Water collected on the wellsite; fluid vacuumed; new rock added. Potential Gross Cost US$ 13,500,000 (100%), of that US$ 850,000 (100%) was environmental related. Claim involved abandonment of completed well, redrill of well, redrill of another to depth of incident. HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 30
31 HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 31
32 Common OEE Incident Characteristics? Each incident is different, with different cost combinations coming into play. Well control (relief well possible) Restoration, redrill, or possibly both. Environmental clean-up, damages, and monitoring operations. Care, custody & control. Evacuation of nearby residents? Other costs? HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 32
33 HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 33
34 Well Control Preventative Measures Prevent wellhead failures during hydraulic fracture treatments Attention to new/used wellhead equipment condition / testing regimen Prevent casing ruptures during the fracture treatment or production Attention to casing condition prior to performing fracture treatments, then Attention to casing condition prior to flowback / production operations. Monitor casing condition by use of multifinger caliper or ultrasonic or electromagnetic logs? (Casing Inspection Logs) Inspect cement sheath quality behind casing to prevent behind-pipe flow Attention to cement condition prior to performing fracture treatments Attained by use of cement bond log or noise/temperature log Be prepared! Remember Murphy s Law! HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 34
35 HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 35
36 Other Concerns & Considerations Green completions? Can they be done effectively? Earthquake claims? Are they really a concern? Contamination of potable water table? Have you performed baselines? Availability of equipment and supplies? Sometimes equipment and materials can be hard to locate and expensive. Project economics? Is all this going to make me money? Applicability of the incident to OEE Policy wording / provisions / intent? Wellsite / pad size? Sufficient for possible well control needs? HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 36
37 References for self study Other Shale Fracking Resources Making Sense of the Overnight Shale Gas Revolution; JPT Online; 16Feb12 Hydraulic Fracturing 101; Journal of Petroleum Technology April 2012; SPE Shale Gas: Promising Prospects Worldwide; JPT Special Section Shale; Jul11; pp Hydraulic Fracturing Operations Well Construction and Integrity Guidelines (API Document HF1) First Edition, October 2009 DOI / BLM Proposed Rules regarding Well Stimulation on Federal & Indian Lands May 4, 2012 HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 37
38 Thank you for your attention! Dan Mason MatthewsDaniel Houston HYDROFRACKING The scope and magnitude of the process, inland marine exposures/issues and community impact. Slide No. 38
39 Trusted. Globally.
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