After 90 days, BP's gushing oil well may now be as good as dead.
In a press conference Sunday morning, a BP executive said that a mechanical "cap" used to shut off the geyser still seems to be holding. As a result, he said, the company now plans to keep it closed permanently -- or at least for a few more weeks, until a "relief well" can plug the leak near its underground source.
"We're not seeing any problems, at this point, any issues with the shut-in," said Doug Suttles, BP's chief operating officer, referring to the closure of the well. Because of that, Suttles said, "we'll continue to leave the well shut in."
Suttles' announcement seemed to alter the strategy that Coast Guard Admiral Thad W. Allen (ret.), the federal government's point man in the disaster, had described on Saturday. Allen had extended a two-day "integrity test" on the well until Sunday. But, Allen said, when the test was eventually done, it would likely be re-opened and connected to pipes that would siphon the leak up toward ships on the surface.
Sunday, July 18, 2010
Maybe BP pushing back?
Posted by traderrob at 8:00 AM