Friday, September 17, 2010

BP (NYSE:BP) Well to be Sealed Permanently Saturday

BP (NYSE:BP) said today the well which failed on April 20 will be permanently sealed on Saturday, ending that part of the story that has plagued the oil giant.

Late on Thursday BP intersected the Macondo well, whereby they can now prepare the final stage pouring in cement for what is called the "bottom kill."

BP reiterated once the well is cemented, it will be completed abandoned and no more oil or gas extracted from it by them.

The well has been temporarily plugged since July 15, when BP placed a cap on the well.

Now that this will be behind them, the legal actions against them have increased, as Judge Carl Barbier, who is overseeing the hundreds of lawsuits, is beginning the process of organizing them all in able to go forward.

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