Tuesday, July 13, 2010

Success of New BP (NYSE:BP) Containment Cap

Even though there are high expectations about the new BP (NYSE:BP) containment cap put in place, it's going to take up to several days before it is known if it is successful or not.

After being placed, tests will now begin to ascertain whether or not the new cap can survive the immense pressure from the oil escaping and then be able to distribute it to the surface vessels via the pipes.

Assuming it does work, it should effectively stop all oil from escaping into the Gulf, and give some breathing room before the permanent relief well is put in place.

And if the first relief well fails, a properly working containment cap would keep the oil from flowing into the ocean until they make a second attempt with a backup relief well.

The key to identifying if it is working properly or not is the pressure within the cap. If it is rising, it would confirm there are no other well leaks, if pressure is lower, it means there is probably another leak somewhere else in the well, whereby a second cap would be placed over the first.

The new containment cap weighs in at 150,000 lbs.

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