Monday, June 7, 2010

BP (NYSE:BP) Captures 11,000 Barrels in 24 Hours

The cap system of BP (NYSE:BP) is constantly improving as over the last 24 hours it is reportedly captured 11,100 barrels of oil which would otherwise had spread in the Gulf of Mexico, and they are looking to improve that to 20,000 barrels of oil soon.

Their ultimate goal is to capture around 90 percent of the oil flowing into the ocean while they wait for the relief wells to be completed, which could be as early as August.

Assuming the estimates of oil leaking into the Gulf by U.S. scientists is accurate, this capture rate now stands at about 58 percent of the flow, although that percentage could be higher as that's using the high end of the estimate of about 19,000 barrels a day.

BP said on their Web site this morning that "Optimization continues and improvement in oil collection is expected over the next few days."

Once this is optimized to its highest levels, we'll finally get some accurate data as to how much will continue leaking into the gulf.

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