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TABLE OF CONTENTS

                      Executive Summary................................................................................................1
                     I.     Introduction ..................................................................................................... 10
                          A.    The Investigation ......................................................................................... 10
                          B.    Background Regarding Deepwater Drilling in the Gulf of Mexico ............ 13
                          C.    Companies Involved in the Macondo Well.................................................. 16
                          D.  The Deepwater Horizon............................................................................... 18
                          E.    The Macondo Well....................................................................................... 19
                          F.    The Blowout................................................................................................. 23
                     II.    Well Design...................................................................................................... 25
                          A.    Cost of the Macondo Well............................................................................ 25
                          B.    Drilling Margin........................................................................................... 27
                          C.    Casing Program........................................................................................... 31
                          D.  Mud Program and Type .............................................................................. 32
                          E.    Mud Losses .................................................................................................. 33
                          F.    Well Ballooning ........................................................................................... 34
                          G.    Planned and Actual Total Depth................................................................. 34
                          H.  Designing the Production Casing – Long String versus Liner................... 36
                     III.   Cementing........................................................................................................ 40
                          A.    Cementing Process....................................................................................... 40
                          B.    Cement Design and Modeling..................................................................... 41
                          C.    Gas Flow Potential....................................................................................... 46
                          D.  Centralizers.................................................................................................. 47
                          E.    Float Collar .................................................................................................. 49
                          F.    Cementing the Macondo Production Casing .............................................. 53
                          G.    Industry Standards for Cementing.............................................................. 57
                     IV.    Possible Flow Paths ........................................................................................ 61
                     V.     Conclusions on Well Design, Cementing, and Flow Path ........................ 68
                          A.    Cause of the Failure of the Cement Barrier.................................................. 68
                          B.    Contributing Causes of the Cement Barrier Failure ................................... 68
                          C.    Possible Contributing Causes of the Cement Barrier Failure ..................... 70
                          D.  Flow Path Cause .......................................................................................... 73
                     VI.    Challenges at the Macondo Well .................................................................. 75
                          A.    Kicks and Stuck Drill Pipe .......................................................................... 75
                          B.    Scheduling Conflicts and Cost Overruns.................................................... 78
                          C.    Personnel Changes and Conflicts ................................................................ 79
                          D.  Safety Stand‐down....................................................................................... 83
                     VII.  Temporary Abandonment of the Macondo Well....................................... 85





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