Task order · TO-7

BSEE TO-7 · Lower & Upper Abandonment

17 wells · 6 platforms · BSEE Gulf of Mexico · $16.34M AFE · Last updated 31 May 2026

On ST 67 B (in transit) · Phase 2 — Lower T&A · Day 40 of plan

Platforms

2 complete · 2 underway · 2 to go

≈16% work complete

PM Danny Turner · Supt Ernie Boudreaux · 26 on board (POB)

Money · the leadership lens

Cash-flow position

+$2.1M

stays positive · tightest ~Aug

milestone receipts − invoiced expense

milestone receipts invoiced cost

Margin & why

22.5% / 18.4%

Conflict

vs bid 17.5%

Phase · days planned → actualForecastΔ

GI 22 P · Lower T&A

8 → 5

$662K

−$298K

GI 22 R · Lower T&A

7 → 5

$530K

−$153K

ST 27 D · Lower T&A (partial)

9 → 4 (partial)

$777K

−$465K

Driver: fewer days on early phases. But ~83% of modeled cost is still forecast — not yet banked.

Cost vs AFE

$2.29M of $16.34M

14% spent

Burn ~$90K/active day

Daily brief · May 31 · Report #30 (signed)

View all daily reports →

What happened

ST 67 B lower T&A complete; rigged down, off platform, in transit/demob. Crescent crew released — no wells cost today. Daily cost (vs ~$90K on active days).

24-hr look-ahead

Continue transit; prep ST 54 G mobilization.

Activity

MODM (mob/demob)RDN (rig down)ALGD (all good)

What changed / needs note

Report #30 signed & sent to BSEE. Today's actual is in the but not yet in the .

Cost to BSEE by account code · from the DPR cost report

Cost-to-date = BSEE-billable (vendor cost × ~1.23 markup). AFE = approved budget (BAC). AFE is live from the DPR; cost-to-date is illustrative until the latest signed DPR is connected.

AccountDescriptionCost to dateillustrativeAFEUsedReconciliation

WSR-0-100

Well Services (Crescent)largest

$861K

$6567K

13%

needs tickets

VES-0-100

Vessel Services

$548K

$4863K

11%

ties to DPR detail

COL-0-100

Company Labor

$331K

$2455K

13%

ties to DPR detail

MIS-0-100

Financial Assurance

$181K

$527K

34%

ties to DPR detail

DOS-0-100

Dock Services

$121K

$558K

22%

ties to DPR detail

SRT-0-100

Surface Rentals

$92K

$272K

34%

ties to DPR detail

LOG-0-100

Logistics & Air Transport

$54K

$443K

12%

ties to DPR detail

COM-0-100

Communications

$6K

$19K

31%

ties to DPR detail

Total

$2.29M

$16.34M

14%

Top 8 of 22 accounts shown

Milestones & billing

Next: ST 27 D partial

Billed to date $1.44M of $2.83M Lower-phase milestones

51%

MilestoneProgressPlannedBilledStatus

Lower Abandonment (Phase 2)

GI 22 P · Lower T&A

100%

$618K

$637K

Billed +$19K — confirm

GI 22 R · Lower T&A

100%

$773K

$800K

Billed +$27K — confirm

ST 27 D · Lower T&A

70%

$906K

—

Partial — D9 needs CTU

ST 67 B · Lower T&A

50%

$537K

—

In progress 50%

CO2 · ST 21 #81

—

Submitted to BSEE

Upper Abandonment — forecast

Upper Abandonment (all)

$8711K

—

Forecast

Invoice/payment model: invoice ~20 days after cost, paid ~20 days after invoice.

Field tickets & vendors

Crescent ticket ↔ DPR reconciliation · POB vs labor hours · overtime flags (16-hr days)

Every ticket also builds your equipment/cost dataset for faster bids.

Schedule · this project

PlatformActualModel plannedStatus

GI 22 P

5/7 – 5/11

aligned

GI 22 R

5/12 – 5/16

aligned

ST 27 D

5/17 – 5/20

aligned

ST 67 B

5/21 – 5/27

6/3 – 6/7

model ~2 weeks behind actual

Model schedule is ~2 weeks behind actual on ST 67 B → milestone/cash timing off.

Cash position, account-code splits and schedule are illustrative; TO-7 milestone, margin and reconciliation figures are from the live files.

Sources: TO7 Financial Outlook · DPR · TO7 Milestones