BP Aims to Contain Flow of Gulf Well Within Days

[Scurrilous]

<snip>

"BP Plc may contain all of the flow from its Gulf of Mexico oil gusher within the next four days by accelerating installation of a tight seal between the damaged wellhead and surface production vessels, said Thad Allen, the government’s national incident coordinator.

The quickened timeline is necessary to complete surface and subsea connections needed before another storm roils the Gulf, stalling work, Allen said today at a press conference in New Orleans. It may also result in thousands of additional barrels spilled over several days while the work is done.

Obama administration officials probably will tell BP to begin as early as tomorrow replacing a leaky cap atop the well that has been routing about 16,000 barrels of oil a day to the surface. Today, crews are connecting to the well a ship BP has estimated can take as much as 25,000 barrels per day beginning July 11, Allen said.

"This is in anticipation of a weather window that will allow us seven to 10 days of good weather,” Allen said. “We’d like to take advantage of that.”

http://www.businessweek.com/news/2010-07-09/bp-aims-to-contain-flow-of-gulf-well-within-days.html

[bluestateguy]

1. I would believe the words out of George W. Bush's mouth before believing anything BP says

nt

[Subdivisions]

2. Somebody un-recced this. *shakes head* I guess they like the oil gusher. n/t

[dipsydoodle]

3. Probably one of those here

who will suffer severe grief and sense of loss when the situation is finally resolved due to their life no longer have any postitive meaning.

[BeFree]

4. Great message from the UK, eh?

We do appreciate your concern.

But as for this being finally resolved? You don't have a clue. But why should you?

[dipsydoodle]

5. Read it again

I said "when".

We will of course share your grief.

[Jamastiene]

12. Maybe they just know BP's track record when they say they are "sure"

they'll have something fixed soon. That could also be it.

[gateley]

6. Congressman Markey is suspicious of this "news". Apparently Tony Hayward is

on a whirlwind tour trying to get money/backing.

[dipsydoodle]

7. Not quite

He's encouraging the Sovereign Wealth Funds to take higher share holdings. That will simply redistribute share ownership - JP Morgan Chase for example currently hold c. 28% of BP's stock. BP have already made it clear that no new shares are being issued. So - there is no money UNLESS BP plc sell some of the shares which own they themselves. Doing so would reduce the dividends that are retained internally. The levels involved however indicate that the SWF's would buy elsewhere.

[gateley]

10. Well thank you for the clarification and explanation. I think I get it now!

:hi:

[dipsydoodle]

15. I'm not altogether sure

what their financial plan is now. It was : borrow from banks, dispose of non core assets , and sell bonds. Their credit rating dropped so the bond sale went out the window as they'd have needed to pay very high interest. They got the bank loans ok , some asset sales in Latin America are afoot and now their existing bonds are increasing in value again so I guess they might go back to the whole of plan A again.

Aside from the whimsical remarks here about BP being British , which it isn't other than the fact its registered here , when it was fully privatised, prior to merging with Amoco , it was done in such a way to lock out the Kuwait Sovereign Wealth Fund so I've no idea exactly why they and the UAE's are being approached now.

:hi: to you too ! :)

[The Backlash Cometh]

8. Now is the time for prayer.

All you Jesus Freaks out there, if you put in another day of National prayer, I'm on my knees with you!

[phasma ex machina]

14. Amen!

Here's Costner's recently deployed oil skimmer:






Here's the big skimmer. (Still problematic.) In calmer seas than the GoM oil enters through slits in front.

[DCBob]

9. if true that would be very good news indeed but somehow...

crying wolf comes to mind.. but anyway hope they can do it.

[anarch]

11. here's to very much hoping this works!

This and the relief wells...

[MineralMan]

13. Well, I'll have my fingers crossed, for sure.