US Approves First Gulf Deepwater Well – And BP Is the Majority Owner

By: Tuesday March 1, 2011 1:00 pm

The Obama Administration approved the first deepwater drilling well permit for the Gulf of Mexico, 11 months after the BP oil disaster. The Bureau of Ocean Energy Management, Regulation and Enforcement announced Monday that it issued a permit to Noble Energy Inc. to continue work on its Santiago well about 70 miles southeast of Venice, [...]

BP Challenges Oil Spill Amount In An Attempt to Reduce Cost of Fines

By: Monday December 6, 2010 7:38 am

BP is aggressively challenging the government’s estimate of the oil spill in the Gulf, because that final number will determine how much they’ll owe in fines: BP’s lawyers are arguing that the government overstated the spill by 20 to 50 percent, staffers working for the presidential oil spill commission said Friday. In a 10-page document [...]

Halliburton Knew About Cement Problems at BP Well

By: Friday October 29, 2010 6:27 am

If there’s one thing Halliburton doesn’t need, it’s a blow to their reputation. They had such a sterling record up to now! Halliburton knew weeks before the fatal explosion of the Macondo well in the Gulf of Mexico that the cement mixture they planned to use to seal the bottom of the well was unstable [...]

BP Spilled 4.4 Million Barrels Into Gulf, According to New Estimate

By: Saturday September 25, 2010 3:47 pm

Kate Sheppard reports on an independent estimate of the BP oil disaster which again raises the amount of oil spilled into the Gulf: An independent estimate concluded this week that the BP spill dumped 4.4 million barrels of crude oil into the Gulf of Mexico. The new study, published this week in Science, is the [...]

BP Report Designed to Make Partners Liable

By: Wednesday September 8, 2010 8:35 am

BP has released an internal investigation into the Deepwater Horizon rig disaster, which led to the release of five million barrels of oil into the Gulf of Mexico. The report and accompanying video basically blames everyone for the disaster, from misreadings of well integrity tests before the explosion, to the failure of the blowout preventer, [...]

BP Threatening Congress: Ban Us From Drilling, and We Won’t Pay Oil Spill Damages

By: Friday September 3, 2010 8:22 am

BP is basically saying here, in the vernacular, “Nice escrow account you’ve got there, would be a shame if something happened to it.” BP is warning Congress that if lawmakers pass legislation that bars the company from getting new offshore drilling permits, it may not have the money to pay for all the damages caused [...]

How Quickly They Forget: Support for Offshore Drilling Increases in Key States

By: Tuesday August 24, 2010 12:38 pm

The news cycles can be measured in milliseconds these days, therefore this result is not surprising: In Louisiana, despite being at the heart of the spill, voters never showed much ambivalence about drilling. When we polled there in June 77% of voters supported it with 12% opposed for a net +65. Still that margin has [...]

Lowest Gas Prices This Year Makes “Drill Now, Pay Less” Look Ridiculous

By: Tuesday August 24, 2010 10:08 am

BP has still not completed the “bottom kill” that would permanently seal the well in the Gulf, though it has not gushed oil for over 5 weeks. The main holdup seems to be a broken pipe attached to the blowout preventer. Eventually, BP will complete the task in the Gulf, one hopes. But just a [...]

Government Tells BP to Complete Relief Well

By: Friday August 13, 2010 11:47 am

Like a lazy adolescent with senioritis, BP had been intimating that they might not need to finish up drilling the relief well that would permanently stop the Macondo well in the Gulf, arguing that the heavy drilling mud, cement and other containment strategies are holding. Admiral Thad Allen gave that idea the big no-go today. [...]

BP’s Liability-Minimization Strategy

By: Wednesday August 11, 2010 8:50 am

A District Court judge has been chosen to deal with almost 300 lawsuits related to the BP oil disaster. While plaintiff’s attorneys are generally pleased with the venue of New Orleans, Judge Carl J. Barbier has come under criticism for past purchases of bonds from Transocean and Halliburton, both of whom were involved in operations [...]

BP Escrow Fund Dependent on Additional Drilling?

By: Tuesday August 10, 2010 1:19 pm

In a sense, this was always the case. BP makes their money from drilling for, and selling, oil, and so their continued viability in running that business affects whether they have the cash available to pay out the $20 escrow fund for compensation to those hit by the oil disaster. But the deal between BP [...]

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