Montara was leaking 2,000 barrels a day as opposed to this leak which is leaking at least 30,000 to 40,000 barrels a day and even more likely it is leaking far more than that. Apples to oranges. This leak is 15-20 times worse. Ixtoc was leaking 20,000 -30,000 barrels a day. It doesn't matter if it was 30 years ago. The methods being used to stop the leak are exactly the same. It is a much better comparison.
July 2 (Bloomberg) -- BP Plcâs first relief well aimed at plugging its Gulf of Mexico gusher is seven to eight days ahead of schedule to intercept and eventually stop the biggest oil leak in U.S. history. The target date for intercepting the leaking well and pumping in mud and cement to permanently seal it is still mid- August, U.S. National Incident Commander Thad Allen said today on a conference call with reporters. The well is within 600 feet (182 meters) of intercepting the leak, he said. âThey are ahead of schedule at this point,â Allen said. âI am reluctant to tell you that it will happen before the middle of August because I think that everything associated with this spill and response recovery suggests that we should under- promise and over-deliver.â BP diverted 25,150 barrels of oil from the leaking well to surface vessels yesterday. The Macondo well is estimated to be spewing 35,000 to 60,000 barrels a day, according to a government-led panel of scientists. The well started leaking after an April 20 explosion on the Deepwater Horizon, causing the drilling rig to sink and killing 11 crew members. Royal Bank of Scotland Group Plc analysts David Cline and Barry MacCarthy said the first relief well may be completed between July 7 and July 12, according to a note to clients yesterday. Pritchard Capital Partners LLC analysts Brian Uhlmer, Anuj Sharma and William Conroy said in a June 29 note that the well would be intercepted between July 7 and July 9.
Hmmm... maybe my October 41 call may finish in the money afterall. You better hoooldd on to what you've gotttt- We've gott each otherrr and that's a lottt.... Ohhhhhh we're halfway theeerrre Wooohooohh LIVING ON A PRAYER!
http://finance.yahoo.com/video/gulfoilspilldisaster-20535161/bp-relief-well-getting-closer-20760139 15 ft or 200 ft..getting close.
BP Aims to Fix Leaking Oil Well by July 27: Report Published: Thursday, 8 Jul 2010 | 4:00 AM ET Text Size By: Reuters Digg Buzz Facebook Twitter More Share Besieged energy giant BP aims to fix its leaking Gulf oil well by July 27, ahead of its earlier target of mid-August, to show investors it has limited its burgeoning oil spill liabilities, the Wall Street Journal said, citing company officials. Getty Images Workers pull aboard boom being used to help block the flow of the oil spill from the Deepwater Horizon in Cat Bay on June 28, 2010 near Grand Isle, Louisiana. The July 27 target date is the day the company is due to report second-quarter earnings and will speak to investors, the Journal said. "In a perfect world with no interruptions, it is possible to be ready to stop the well between July 20 and July 27," the head of BP's Gulf Coast restoration unit Bob Dudley told the newspaper in an interview. However, Dudley said this "perfect case" is threatened by the hurricane season and is "unlikely." BP could not immediately be reached for comment by Reuters outside regular U.S. business hours. BP shares have fallen by half since its well blew out in April, spewing crude oil into the Gulf of Mexico and soiling the shores of every U.S. Gulf Coast state. The Journal said BP is also preparing a series of backup plans in case its current operations go awry. Citing company and administration officials, the paper said BP's plan include connecting the rogue well to existing pipelines in two nearby underwater gas and oil fields. BP Chief Executive Tony Hayward met with an Abu Dhabi state investment fund on Wednesday, part of a quest for cash to ward off takeovers and help pay for the worst oil spill in U.S. history. BP's shares closed up nearly 4 percent on the New York Stock Exchange, buoyed by investor relief the company had said it does not plan to issue new equity, and speculation the worst is behind for what they see as an underpriced energy giant. (Click here for BP's London share performance) RELATED LINKS BP Boss in MidEast Talks, Weather Hampers CleanupBP: No Plans to Issue StockStorms Aggravate Spill DamageUK Prepares in Case of BP Collapse Copyright 2010 Reuters.
90 ft to go ..6ft away on angle. as of july 9 as per BP video update. still estimating later part of july for intercept tho. then "number of days to few weeks to kill" http://bp.concerts.com/gom/sealingcapinstallationoverviewwithkentwells070910.htm
This BP debacle and the incomprehensible lack of an intelligence is "killing Me"...what they should have done (imo) is give $10M to every college engineering department in the country, with a race to the finish line for capping the Well and give the winner a $100M prize! The damages to economics alone justify the amount and it will be a "small fraction" of what the eventual outcome totals' up to....but too late now, chalk it up to idiots & morons.