The oil seepage that had everyone worried and fearful is a false alarm as far as it being connected to the BP (NYSE:BP) Macondo Well. Government representative, Thad Allen, said the seepage is coming from a nearby abandoned well, and is not as a result of the containment cap or pressure related to it.
Two wells that are less than two miles from the Macondo well are one of the culprits. One isn't in production and the other is an abandoned oil well; one of approximately 27,000 abandoned wells in the Gulf of Mexico.
Allen also spoke to the five leaks that are close to the broken well, saying they should be understood as drips, and shouldn't be interpreted as suggesting instability in the well.
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