Friday, July 16, 2010

BP (NYSE:BP) Cap Pressure Rising is Good News

After stopping the flow of oil into the Gulf of Mexico yesterday, the next step by BP (NYSE:BP) will be to determine if the amount of pressure rising within the new containment cap.

The good news is that's exactly how it's performing at this time, as the pressure continues to rise.

Why this is good news is if the pressure rises to above 8,000, which is the goal of the oil giant, it will show there isn't oil leaking out somewhere else. The lower the pressure the more possibility there are leaks somewhere.

The latest numbers were the pressure was up to 6,700 a square inch inside the capping stack of the well, and that indicates so far the oil isn't spilling into the Gulf.

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