Monday, June 7, 2010

BP (NYSE:BP) Containment Cap Working Better

Although BP (NYSE:BP) is making improvements on their marine riser cap, and they have captured approximately 16,600 barrels of oil from June 3 through June 5, they have been quick to note there are no guarantees they will be able to sustainably contain the well using this method.

It all comes back to their being no map to follow, as it's the first time anything has been tried at this depth in the ocean, so any short-term success can't be guaranteed, although any siphoning of the oil into a ship and keeping it from dispersing into the Gulf is good news.

BP officials say it could still be several days before they can fully understand the how successful they've been and how much oil they're going to be able to capture. They do have a goal and hopes of being able to capture 90 percent of the oil coming from the leak.

If BP can improve on the containment until the relief wells are dug which should halt almost all of the leak, they'll finally be able to manage the situation and focus more on cleanup.

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