Monday, June 21, 2010

BP (NYSE:BP) UPDATE: Fuel Spill containment

A group of reporters were able to tour the BP (NYSE:BP) oil rig on Saturday and see how the fuel spill containment was progressing. They flew along the Mississippi River Delta above the wetlands. They saw the ineffective boom floating as well as the skimmers. About 40 miles off the coast, they reach their destination which has a 200 foot derrick.

Wendell Guidry, the Transocean drilling superintendent that was on the rig said," its always, always on our mind." Work continues to press on around the clock. There are eight thrusters in place that keep the rig positioned correctly over the well. In the distance another rig is visible, it is siphoning oil and gas from the well and burning it. It appears the flames are coming down like a shower. There are ships surrounding this rig, their purpose is to hose of the deck to keep the heat from building.

Thad Allen, Coast Guard Administrator said that the drilling and construction of the relief wells is still ahead of schedule. Of course there can always be delays. Like on Saturday, a set of tongs which are used to hold the casings in place broke.

BP is still maintaining their drilling of the relief well should be completed sometime in August, of course there are no guarantees. Currently, they are close to 11,000 feet below the sea floor.

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