Explosion – Deep Water Horizon Drilling Rig in GOM, USA

[James McLauchlan]

Yesterday I placed the live stream from the ROV working around the BOP on the front page as a news item.
Maybe James can place it in a block and squeeze it in between the forum block and news block temporary.

I was actually wondering if there are people here having a look at this live stream on a regular base?

Sorry Ronald, missed this. I’m a bit busy right now but will try to look at the block option. Sent you a PM earlier.

[Jeffrey Snyder]

4 weeks ago, I would have thought that armchair-quarterbacking on the well closure effort would have been silly. But now that we are 6 weeks into this mess, it is apparent that there are some sharp folks out there (or here) with great ideas, but no avenue to express them.

You would think that, at this stage, BP or perhaps more importantly some agencies in the U.S. government would be dipping into the ranks of the subsea services industries to open up channels of communication…there are some exceptionally talented people out there that don’t necessarily work for the major offshore operations, but have fantastic workable solutions that are worth considering. Unfortunately, they are relegated to sending emails off into black holes (a la seaview). Sooner or later, they will need to get some fresh minds with fresh ideas to shut this thing down…

[Matthew Cook]

Technical report released today by BP:

http://bp.concerts.com/gom/kentwellstechupdatelong053110.htm

[James McLauchlan]

I’m not a pessimist by nature but I shorted BP stock late last week before the three days close on UK markets (May bank Holiday) because I suspected they were trying to blindside the markets by suggesting that the ‘top kill’ was somehow working. The wording of some of their updates suggested to me that it was stock protection getting them to the bank holiday weekend before markets closed rather than real physical progress. Needless to say today on market open BP tanked BIG style.

[Anonymous]

As a FTSE 100 company on which many UK pensions are based, there will be many loosers. Coupled with tighter regulation, a temporary ban on deep water exploration in GoM and lots more to come. Its not good

[Ray Shields]

Im still surprised at how much BP are getting the blame when there is no mention of Transocean, Slumberger and the other sub contractors involved.

Imagine you taking on a builder to build your house, they take on an electrician, the electrician electrocutes someone, and YOU ended up in jail!

Enjoyed watching one ROV tightening the nut on the underwater grinder of the other ROV that was cutting through pipe last night on the ROV feed 🙂

[Paul]

Imagine you taking on a builder to build your house, they take on an electrician, the electrician electrocutes someone, and YOU ended up in jail!

Not "in jail", but the home owner is held responsible for the actions of the contractor and subcontractors. You, the homeowner, would then sue the contractor and perhaps the subcontractor. That’s how it works, at least on this side of the ditch.

I think, when all is said and done, that when this is all over a number of big companies will become smaller, a few people will really get nailed, others will get off scott-free and a lot of attorney’s will be buying new yachts.

[Mark DuPriest]

Only BP is responsible for it’s failure to contain the spillage.
Had this blowout not resulted in spillage it likely would not have made the news.

[iROV]

Transocean asked a US court in Houston on 13 May to limit its liability to just under $27 million. The move sparked outrage within the Obama administration, which is grappling with the consequences of massive spill.

Transocean cited the 1851 Limitation of Liability Law in its petition, infamously used by the owners of the luxury cruise liner Titanic to protect them from claims by the ship’s survivors and families of those who perished on the vesse]

http://www.upstreamonline.com/live/article216333.ece

BP shares have plunged 34 percent, That may make BP cheap enough to attract acquisition interest.

http://www.bloomberg.com/apps/news?pid=20601207&sid=annwCNuRAZxg

[James McLauchlan]

BP shares have plunged 34 percent, That may make BP cheap enough to attract acquisition interest.

http://www.bloomberg.com/apps/news?pid=20601207&sid=annwCNuRAZxg

There may still be some short term downside left in BP yet, but the company is now undervalued on share price alone. My view is, as a long term investment, they are certainly a cheap buy right now. Although I was short of BP recently (Spread trading) I am seriously considering buying physical shares in BP to be onboard for the longer term climb back up.

[Matthew Cook]

I agree James. I bought in a few shares yesterday. The price will probably continue to drop a bit more in the short term but I think in the long term the stock is very cheap. My feeling is that BP have now caught up with themselves and they have a real and workable plan moving forward. My feeling is that the LMRP cap will be successful and things will start looking up from here on out.

Just had a laugh looking at the live feed. The feed was coming from a Veolia vehicle, it pulled away from the worksite where they are cutting the riser from the BOP and their video showed a total of 5 vehicles all hanging about looking in at the same job. Looked like a bunch of subsea council workers leaning on their shovels!

[Ray Shields]

Only BP is responsible for it’s failure to contain the spillage.
Had this blowout not resulted in spillage it likely would not have made the news.

It was Transoceans rig that was drilling and Transoceans BOP that failed. And who was the cement company?

No companies in North America getting the blame, only BRITISH Petroleum 🙂

[Scott Beveridge]

Only BP is responsible for it’s failure to contain the spillage.
Had this blowout not resulted in spillage it likely would not have made the news.

It was Transoceans rig that was drilling and Transoceans BOP that failed. And who was the cement company?

No companies in North America getting the blame, only BRITISH Petroleum 🙂

Ray,

Some Schlumberger hands were onboard and advised the rig shut down ops. to allow a full cure of cement to be then to test CBL. The rig didn’t stop and they asked for a chopper. They were told to "get on with the job " and asked their company to get a chopper out. They dragged up – very fortunately. See below…

A Smoking Gun in BP’s Deep Horizon Mess

Submitted by BassMan2 on 15. May 2010 – 11:31
Thom’s nationally syndicated radio show

This hasn’t seemed to have gotten much circulation yet, and I think it really needs to. Seems that a crew from Schlumberger, on contract to BP, hightailed it off the platform at their own expense 6 hours before the blowout becuase BP refused their recommendation to shut down the well. This lends more credence to Thom’s suggestion that corners were cut because the bigwigs were coming for a vist.

"BP contracted Schlumberger (SLB) to run the Cement Bond Log (CBL) test that was the final test on the plug that was skipped. The people testifying have been very coy about mentioning this, and you’ll see why.

SLB is an extremely highly regarded (and incredibly expensive) service company. They place a high standard on safety and train their workers to shut down unsafe operations.

SLB gets out to the Deepwater Horizon to run the CBL, and they find the well still kicking heavily, which it should not be that late in the operation. SLB orders the “company man” (BP’s man on the scene that runs the operation) to dump kill fluid down the well and shut-in the well. The company man refuses. SLB in the very next sentence asks for a helo to take all SLB personel back to shore. The company man says there are no more helo’s scheduled for the rest of the week (translation: you’re here to do a job, now do it). SLB gets on the horn to shore, calls SLB’s corporate HQ, and gets a helo flown out there at SLB’s expense and takes all SLB personel to shore.

6 hours later, the platform explodes."

Oh shit howdy boys!!!

So Ray, IF this is true…..????? Bp’s call it looks like as in all drilling and offshore ops. The co. man takes it all on his shoulders. And it doesn’t matter WHAT nation the company is from.

http://www.thomhartmann.com/forum/2010/05/smoking-gun-bps-deep-horizon-mess

Rumor Schlumberger Exits Deep Horizon Hours Before Blowout

[James McLauchlan]

I suspect that there is an element of rumour in the above, especially when you read the comments posted afterwards by people whom appear to be in the game.. I have to agree with one of the posters where they suggest that the part about an SLB man ordering the BP company man to do something doesn’t quite ring true. However, more often that not these rumours stem from some form of event that actually occurred (Prior to the obvious big bang I mean). I’m sure that (as suggested in one of the posts) SLB will need to respond during an inquiry and may well be obliged to confirm or deny what has been suggested.

[Scott Beveridge]

Indeed James… One would think all will be revealed in a court of law (in which this will all end up) in short order. As I said, "IF true…..". One can’t take forum chats as gospel.

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