A leaking well in the North Sea continues to hamper crude oil production from the Elgin field operated by Total SA (NYSE: TOT). The company has shut-in about 130,000 barrels/day of oil equivalent as it was forced to evacuate all its workers from the area. Royal Dutch Shell plc (NYSE: RDS-A) also evacuated some personnel from a nearby platform and suspended some drilling operations.
The leaking well has been shut-in for a year and the leak is reportedly coming in at the platform level, not under the surface. Total is considering drilling a relief well, similar to the action taken by BP plc (NYSE: BP) when it was trying to stop the leak at its Macondo well in the Gulf of Mexico in 2010. Drilling a relief well would take a long time, and would prevent Total from resuming production in the field until the well is completed.
Shares of Total are off about -6.7% today at $51.10 in a 52-week range of $40.00-$64.44.
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
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