Tuesday, August 24, 2010

BP (NYSE:BP) Bottom Kill Could be Delayed by Stuck Pipe

With the blowout preventer probably being the key evidence on what happened to the Deepwater Horizon oil rig and the resultant oil spill, it's imperative to successfully retrieve it without doing any damage, so there is no uncertainty if it is found to be the major culprit in the accident.

Another snag has emerged in the situation, as a 3,000 foot long pipe is connected to the blowout preventer, and BP hasn't been able to remove it so far.

National Incident Commander Thad Allen said if that continues to be the case, BP will have to come up with an alternative plan on how they're going to do it without damaging it, sometime today.

Allen said, “Our goal was originally to complete this in three days. It may go a little beyond that because of the diagnostics on the blowout preventer.”

“Technically it’s feasible to do it but it’s obviously harder if the pipe is still in the blowout preventer,” Allen added. “That’s the reason we’ve asked BP for an additional procedure if for some reason it becomes a problem removing a pipe.”

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