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well condition data collected by Sperry‐Sun during the temporary abandonment
                   procedure and reports prepared by the International Association of Drilling
                   Contractors (“IADC”) to help reconstruct and identify key issues during the 24
                   hours immediately prior to the blowout.  Keystone Engineering conducted a
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                   casing buoyancy analysis.   Oilfield Testing and Consulting conducted a cement
                   blend analysis on samples provided by Halliburton.  Det Norske Veritas
                   (“DNV”) conducted the forensic examination of the Deepwater Horizon’s BOP
                   stack and sections of drill pipe and provided a forensic analysis report detailing
                   the information and conclusions developed based on this examination.   These
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                   expert reports are attached as appendices to this Report.

                          The purpose of this investigation was to identify the causes of the
                   Macondo blowout and issue recommendations in order to reduce the likelihood
                   of a similar event in the future.  Throughout this report, the Panel classifies the
                   factors that contributed to the blowout in the following categories:

                         Causes are those factors that most immediately and proximately caused
                          the blowout; that most directly led to the circumstances underlying the
                          blowout; or that allowed the blowout to happen.  But for these factors,
                          there would not have been a blowout.  These factors may be specific
                          events or conditions that existed in the well or on the rig at the time of the
                          blowout.

                         Contributing Causes are those factors that alone would not have led to
                          the blowout, but that were significant in contributing to the events or
                          conditions that gave rise to the blowout.  For a factor to be classified as a
                          contributing cause of an event, there must be compelling evidence
                          supporting both the existence of the factor and that it materially
                          contributed to the occurrence or severity of the event.

                         Possible Contributing Causes are those factors that either were minor
                          contributing causes of the blowout or for which the evidence suggests the
                          factor’s contributing role in the blowout is weaker or less compelling.


                   10  The casing buoyancy analysis evaluated whether the production casing floated up the wellbore
                   a result of the blowout.
                   11
                     As discussed in more detail later in this report, a BOP stack is a large device that sits on top of a
                   well and is designed to assist rig crews in maintaining control of the well.  Various BOP stack
                   components can be manually or automatically operated to seal the well and protect against a
                   blowout.  The central issue investigated by the JIT regarding the Deepwater Horizon BOP was why
                   the BOP failed to stop the flow of hydrocarbons from the Macondo well.



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