BP Sees Progress in Bid to Increase Gulf-Oil Capture (Update1)
Well Kill Plans
“If they have that cap in place, they have an added advantage in trying to kill the well,” said Don Van Nieuwenhuise, director of professional geosciences at the University of Houston. “It should ensure the kill will work” and assure that cement injections have a chance to set, he said.
BP plans to intersect the Macondo with a relief well at the end of this month and plug it permanently next month, Wells said.
The first relief well has 60 feet to 70 feet more to drill to the final casing point, he said yesterday. After that point, they will have another about 100 feet to go to intersect the well, said Wells.
Investors and analysts expect the new containment system to be successful, Brian Youngberg, an analyst at Edward Jones in St. Louis who rates BP shares “sell” and owns none, said in a July 9 interview. “If they have problems with it, I think the market would view this negatively.”