Oil Slick Stuff

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07/15/2010 - Updated 1:02 PM ET
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Oil trades below $76, as traders focus on bearish reportsIn contrast, natural gas rallies 7% after inventories report
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By Claudia Assis, MarketWatch & Kate Gibson, MarketWatch
http://markets.usatoday.com/custom/...-40D8-AB06-8E7B7071DA2F}&loc=interstitialskip
 
Let the healing begin..

BP: No oil leaking into Gulf from busted well​

"NEW ORLEANS – A tightly fitted cap was successfully keeping oil from gushing into the Gulf of Mexico for the first time in three months, BP said Thursday. The victory — long awaited by weary residents along the coast — is the most significant milestone yet in BP's effort to control one of the worst environmental disasters in U.S. history.
Kent Wells, said at a news briefing that oil stopped flowing into the water at 2:25 p.m. CDT after engineers gradually dialed down the amount of crude escaping through the last of three valves in the 75-ton cap..."

http://news.yahoo.com/s/ap/20100715/ap_on_bi_ge/us_gulf_oil_spill
 
frogdance.gif Good news, thanks Buster, I was watching a couple of movies and missed it. Let's hope it holds.:)
 
nnuut said:
View attachment 9717 Good news, thanks Buster, I was watching a couple of movies and missed it. Let's hope it holds.:)
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Amen Brother..the Gulf coast folks needed a break....So far, the so-called currents have not picked up any of the oil and most of it has stayed near the North of the Gulf...Hopes are now that it won't get down to Miami and around to the Atlantic as gloom and doomers earlier predicted with their homemade current charts from day 1.....at least now there is a fighting chance of a good clean-up with the oil flow stopped.
 
Question: If the test results prove that the well case and the seafloor surrounding the oil deposit have not been compromised does it make sense to cement it closed or do they start pumping oil with all profit going directly to the restoration of the gulf for years to come?
Although I know it's early in the testing phase seems like a question I have not heard asked.
 
WorkFE said:
Question: If the test results prove that the well case and the seafloor surrounding the oil deposit have not been compromised does it make sense to cement it closed or do they start pumping oil with all profit going directly to the restoration of the gulf for years to come?
Although I know it's early in the testing phase seems like a question I have not heard asked.
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If proven safe to use it would make sense to me, but you know how the Government is?:cool:
 
07/16/2010 - Updated 8:43 AM ET
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Crude futures waver as traders key on weaker dollar
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By Kate Gibson, MarketWatch

NEW YORK (MarketWatch) -- Crude-oil prices veered between gains and losses Friday, bolstered by a weaker dollar and prospects that energy demand would rise as the global economy recovers, even as investors pose fresh questions about the health of the rebound.http://markets.usatoday.com/custom/...S&guid={8AC36A45-7D9A-4AE3-B6EF-C275ADBBEB3E}
 
Eeek, you want to open up the well again? There's no infrastructure above it anymore, it blew up, so you are not going to save much time or money. In the amount of time it would take to get a new rig built out there, you could definately drill a new well. Plus, the procedure for failed wells is to cement them. This one is toast.
 
"IF" it is proven SAFE they can position another rig over it and hook it up!! The well is OPEN now! I'm not saying it is a good idea considering the condition of the equipment, lots of unknowns, but utilizing the proceeds for GOM CLEANUP has merit if possible. AM I CLEAR ON WHAT I SAID?:D
 
If the cap was meant to only hold pressure long enough to test the integrity of the well bore and casing then it is a no brainer. Seal it up. But if that contraption they put on top is a new and improved BP the risk of digging another well would seem to be greater than using what is in place. Not to mention the fact that if it is closed no one will be allowed back there. Ever.
 
Ah, for us who only know enough about engineering and underwater pressures to know it's dangerous down there; what you are saying is:

The deep underwater and underground pipes appear to be sound (it was the valve and above that failed) so why not put in a new rig above a working pipe instead of making another hole?
 
I'm sure the idea was used in oil production from the new well cap and was tossed around a bit... $$$$$:nuts:..in fact, it was eluded to by some BP officials on the news..But BP's COO said they will only suck oil from the cap long enough, until the relief wells were in place and the kill (mudding and cementing) can permanently close down the well...IIRC, one of the things that was noted in the initial stages of the Failure of the well, was that improper things were done or not done to the well bore..BP cut some major corners and that is what lead to the disastrous blow out..therefore it is unsafe to use now as a production well..
 
Buster said:
I'm sure the idea was used in oil production from the new well cap and was tossed around a bit... $$$$$:nuts:..in fact, it was eluded to by some BP officials on the news..But BP's COO said they will only suck oil from the cap long enough, until the relief wells were in place and the kill (mudding and cementing) can permanently close down the well...IIRC, one of the things that was noted in the initial stages of the Failure of the well, was that improper things were done or not done to the well bore..BP cut some major corners and that is what lead to the disastrous blow out..therefore it is unsafe to use now as a production well..
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How true and you have to take into consideration that it doesn't have the proper emergency STOP VALVES that are required, the ones on the well failed to stop the flow. That is the kicker, I'm sure they will plug this one.:cool:
 
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