Oil Spill Spreads Rapidly After “Top Kill” Fails

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By Douglas A. McIntyre Updated Published
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The surface size of the Deepwater Horizon spill is expanding rapidly as news came out that the “top kill” attempt by BP plc (NYSE: BP) has failed and the company will try alternatives to stanch the flow of oil.

According to NOAA, “After three days of trying to kill the well with drilling fluids and debris, BP has conceded that the effort has not been successful in stemming the flow of oil from the ruptured riser.”

After three days of trying to fill the well with drilling fluids and debris, BP has conceded that the effort failed to stem the flow of oil from the ruptured riser.  In an early evening press conference, BP executives said it was unclear why the “top kill” failed, but argued it was time to move to other options.

The next approach for stopping the well leak is the lower marine riser package approach, or LMRP.   The LMRP cap is a newly made version of a device formerly called a “top hat.” In this operation BP will cut the bent riser pipe from the blowout preventer and place an engineered cap over the opening.  The cap would be connected to the drillship via a riser pipe.  The material and equipment required to complete this operation are already in place, but the effort is still expected to take four to seven days.  BP believes that the system could capture much of the leaking oiling, but acknowledges that the relief wells remain the primary solution. The NOAA also said that “OR&R scientists continue to produce daily trajectories of the surface oil. For the nearshore region, moderate southerly winds are forecast to resume and continue through Monday at 5-10 kts. These winds may begin moving oil that has tended to the southwest from the source towards the Delta.  In addition to continued threats to shorelines in Breton and Chandeleur Sounds, model results show that some oil may move north to threaten the barrier islands off Mississippi and Alabama later in the forecast period. ”

The BP plans may still fail, leaving the drilling of relief wells, which could take 90 days, as the only alternative to stop the flow of oil. If that does work, the leak could last for months, until the oil deposit under the ocean floor reaches a level of pressure the same as the water.

By then the entire Gulf could be awash with crude.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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