Today's competitive environment within the natural gas industry requires gas storage operators to apply various risk management practices to effectively maintain and manage gas storage facilities. One operator's business management strategy includes tracking two key monitoring and maintenance parameters - reservoir integrity and storage well mechanical integrity. Reservoir integrity management consists of applying recognized standard reservoir engineering methods to monitor pressure and volume relationships. A storage well Condition Assessment Program is proposed to provide a consistent means to monitor and assess storage well mechanical condition in order to optimize limited capital resources applied to asset integrity management.

A relative risk assessment methodology is proposed to identify candidates for storage well reconditioning programs. A standard relative risk equation is applied to generate a relative risk profile based on certain probability of failure and consequence of failure parameters. By normalizing the information used in evaluating mechanical condition, wells within a controlled population are examined as possible reconditioning candidates.

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