Saturday, May 29, 2010

BP (NYSE:BP): "Top Kill" Taking Longer Than Expected

The attempt by BP (NYSE:BP) to stop the oil flow in the Gulf of Mexico using what is called "Top Kill" looks like it'll take longer than expected, as far as operationally and in finding out if it'll work.

Much of that comes from the heavy fluid being used to attempt to plug the oil well isn't filling it at the percentage hoped, and so a secondary method of injecting various materials called “junk shot,” which attempts to fill in holes which would help the original fluid fill it in better.

Each time a "junk Shot" is taken, BP has to stop the operations and wait. That is the major cause of it taking longer than usual, as they're evidently trying more of these than we know of.

Original estimates of knowing whether it would work or not was up to two days, now that has been extended to up to another two days.

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