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NOAA: Deepwater Horizon Incident, Gulf of Mexico Oil Spill Update

Improving weather today allowed both NOAA overflights and dispersant operations to resume. Today, four aircraft applied dispersants to the surface slick, and dispersant application by vessels is expected to begin tomorrow. Monitoring of the dispersant efforts are ongoing. NOAA overflights were conducted over the source as well as south from Mobile. At present, technical specialists and other personnel from many agencies and organizations are assisting NOAA in providing scientific support for the spill response. (Incident News)

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Oil Spill

This is old news, I'd like to see the trjectory map for today, May 19.

Save The Well, Versus Stop The Spill

I am glad to hear that BP will cap this well soon. They should have done this day one.

BP is a UK firm and these deep water wells are technically uncertain and this failure means that the investment on the books of BP will have to be written off.

That could be a reason why this has gone on for 30 days. The equity of that UK firm is at risk and if this capital asset program and the capital projects in that category are simply not safe, then this could be why the flow has gone on for so long.

The fact is these wells may be now deemed to be a loss and that puts at risk, not only the equity capital base of this UK firm, but the restrictive covenents on that UK firm's bond indentures.

Edward D Perrotti
International Oil Finance Executive (retired)