Monday, August 23, 2010

BP (NYSE:BP) Has Begun Removing Drill Pipe

BP (NYSE:BP) has begun the process of removing the 3,500 feet of drilling pipe from the Gulf of Mexico. This could not start until the completion of an ambient pressure test. The test assured that no oil or gas would escape if the blowout preventer and sealing cap are removed from the top of the well.

Thad Allen, retired U.S. Coast Guard Admiral, told BP that they had to put together a plan to get out the blowout preventer. They had until Sunday to turn over the plans to the U.S. government. The question remains, how they will successfully remove the pipe while managing to keep the cap and blowout preventer in place and preventing damage.

U.S. officials said that it is necessary to replace the blowout preventer prior to the final "bottom kill" attempt because there are concerns that the sealing cap could come loose. If the cement and mud mixture is forced into the bottom of the well prematurely, it ultimately could blow the cap off all together and the trapped oil would leak into the Gulf.

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