National News

BP looks ahead to plug Gulf well for good

Saturday, August 07, 2010

BP is getting ready to plug the broken Gulf oil well from the bottom. The oil giant could resume digging the final 100 feet of the relief well on Sunday, so it can begin the last steps in the plugging process.

BP wants to have work on the relief well finished by late next week.

Meanwhile, BP has left open the possibility that it could someday drill a new path into the same undersea reservoir of oil.

That reservoir could hold nearly $4 billion worth of crude oil.

The prospect didn't sit well with Gulf Coast residents and officials who say the company can't be trusted.

Latest Developments:

  • More than three months after the Deepwater Horizon rig exploded and triggered one of the world's worst oil spills, authorities are weighing in on how to gather evidence from the mile-deep waters. It could help investigators determine what happened - and who could be at fault.
  • A federal report this week indicated that only about a quarter of the spilled crude remains in the Gulf and is degrading quickly. Some scientists disputed the report's veracity, and much of the remaining crude has permeated deep into marshes and wetlands, complicating cleanup.
  • Taxpayers took another hit, this one indirect, from the oil spill caused by the Deepwater Horizon rig explosion through insurance claims related to the disaster.
  • Shares of Anadarko, BP's partner in the blown-out well, and Transocean, which leased BP the ill-fated rig Deepwater Horizon, rose sharply this week. Both indicated they're coping with the consequences of the spill. And they remain firm that BP should bear the brunt of the total costs.

The Associated Press contributed to this report.

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