As a result of the Chernobyl accident and other precursor events (e.g., Diablo Canyon), the US Nuclear Regulatory Commission's (NRC's) Office of Nuclear Regulatory Research (RES) initiated an extensive project during 1989 to carefully examine the potential risks during Low Power and Shutdown (LP S) operations. Shortly after the program began, an event occurred at the Vogtle plant during shutdown, which further intensified the effort of the LP S program. In the LP S program, one pressurized water reactor (PWR), Surry, and one boiling water reactor (BWR), Grand Gulf, were selected, mainly because they were previously analyzed in the NUREG-1150 Study. The Level-1 Program is being performed in two phases. Phase 1 was dedicated to performing a coarse screening level-1 analysis including internal fire and flood. A draft report was completed in November, 1991. In the phase 2 study, mid-loop operations at the Surry plant were analyzed in detail. The objective of this paper is to present the approach of the phase 2 study and the preliminary results and insights