Friday, July 30, 2010

BP (NYSE:BP) Oil UPDATE: Static Kill Progress, Asset Sales

According to the soon to be CEO for BP (NYSE:BP), the company is planning on attempting the "static kill" operation on Tuesday. If successful it will seal the broken well. The the focus will turn to the relief well and permanently plugging it by the end of August.

The "static kill" process entails pumping heavy drilling mud followed by cement into the top of the Macondo well. The goal is to push a column of oil back into the reservoir almost three miles below the seafloor. Crews were installing a final pipe like casing into the well Thursday evening.

At a news conference in Mississippi, Dudley stated that BP is currently in the process of a $25 to $30 billion global asset sale. The Apace deal of $7 billion has also been agreed on. The sales are part of the company's plan to pay for the costs they've incurred from the massive oil leak that has spilled out over $200 million gallons of toxic crude.


  1. It's called spell checker. Use it.

  2. To Dripping Oil Team (aka BP basher),

    Check your sources too. They planned to attempt the ops on Sunday.

    Leaking Oil... 8-P

  3. as if youd comment on the spelling you miserable old git.