Tuesday, August 10, 2010

BP (NYSE:BP) Stops Drilling Relief Well As Storm Approaches

Just 30 feet away from their destination, BP (NYSE:BP) has been forced to suspend drilling operations in relationship to the relief well, which will permanently plug the well.

The operation could be delayed up to three days while the company waits for the latest Gulf storm to move out of the region.

How it works is a temporary object called a storm packer, which is a type of plug, will be placed in the casing, according to Thad Allen.

Allen added, "They are just going to wait out the storm. We expect the weather to be choppy enough...we are taking these steps as a precaution."

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