Friday, September 17, 2010

BP (NYSE:BP) Relief Well Finally Intersects Macondo

The "bottom kill" is close to being on, as the National Incident Commander Admiral Thad Allen said in a statement that the relief well drilled by BP (NYSE:BP) has finally intersected the Macondo oil well.

Allen said, "The aggregate data available supports the conclusion that the two wells are joined," adding, “We intend to proceed with preparation to cement the annulus and complete the bottom kill of the well.”

Confirmation of reaching the targeted destination came from pressure and sensor tests performed by BP engineers.

The next step in the process will be to pump cement into the well, which starts with the annulus; the space between the walls of the well and the pipe.

After the cement is poured and cured, a series of tests will be performed to confirm the well has been killed.

Estimates are it will take up to four days to complete.

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