Energy
Shell, Transocean Stop Leak in Gulf of Mexico Well (RDS-A, RIG, BP)
Published:
Last Updated:
A small leak in a line feeding drilling fluid to a well owned and operated by Royal Dutch Shell (NYSE: RDS-A) and using a rig owned by Transocean Ltd. (NYSE: RIG) has spilled less than 6,000 gallons of drilling fluid into the Gulf of Mexico. The leak was reported on Sunday night and the well was shut down on Monday.
The well is located in the Mississippi Canyon area of the Gulf, about 20 miles from the location of the Macondo well, where a Transocean rig exploded in April 2010, killing 11 workers and spilling 5 million barrels of oil from a well owned by BP plc (NYSE: BP).
The recent accident is reportedly far less severe. The original report indicated that 319 barrels (about 13,400 gallons) of drilling fluid escaped. MarketWatch reports that Shell now says that 7,560 gallons of oil and 5,829 gallons of drilling fluid leaked into the Gulf.
Federal regulators have approved Shell’s clean-up plan which will include disconnecting the drilling fluid line from the well’s blowout preventer. There is no estimate of how long the well will be shut-in.
Paul Ausick
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
