Houston company accepts responsibility for oil spill off Louisiana

[I make oil]

P&A funds go into an Escrow account and is there for P&A. Spill mitigrafion does not fall under P&A to my understanding that falls to the operator. Oil spill response and mitigating is totally different from P&A. Lots of companies come in and take mature properties for the P&A work and to operate the properies as long as they are economically viable. Exp Maritec they are an operating susidarary of Tetratec which is a P&A company. They come in and take over a property, the mone in the P&A escrow account goes with the property.
Maratec operates the facility as long as they can the Tetratec comes in and does the P&A then they either recycle the old facility or scrap it. They make money all the way around.