BP (NYSE:BP) May Resume Blowout Preventer Removal Sooner than Expected

Changing his time-frame for the continuation of removing the blowout preventer and replacing it with another, National Incident Commander Thad Allen said BP (NYSE:BP) may begin operations again within 24 to 36 hours.

The waves in the Gulf of Mexico had stopped the process from moving forward, and it was thought things could be put on hold all the way into next week.

Now Allen sees preparations to remove the blowout preventer by Friday and through the weekend, and the new preventer in place by Wednesday at the latest. That assumes the weather cooperates.

Once the new blowout preventer is put in place, the final steps for the "bottom kill" can begin, which would permanently plug the well. That is scheduled for September 7, according to Allen. It could take up to four days to complete, he added.