Thursday, June 24, 2010

BP's (NYSE:BP) Spill Containment Cap Back In Place

BP (NYSE:BP) said they have been successful in putting the spill containment cap back onto the Macondo well. Oil and gas has resumed being taken to the drillship Discoverer Enterprise at the surface.

Thad Allen, Coast Guard Admiral said the containment cap was removed by Transocean after an ROV hit the cap. The drillship Discoverer Enterprise was then moved off the site so that repair could begin. What happened was the ROV accidentally closed a vent which regulates the gas and oil flow and prevents pressure from building.

The vent closure than caused the pressure to build and hydrocarbons started bubbling up through the line which purpose is to inject warm water as oil is being brought to the surface. This water prevents hydrate crystals from forming and clogging the line.

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