Crucial test on ruptured BP well in limbo |
| MarketWatch - Jul 14, 2010 |
Investors pressured shares of BP PLC on Wednesday, with the company stuck in a holding pattern on a crucial test of a new containment system over its leaking oil well in the Gulf of Mexico.
Officials had expressed some optimism that a tighter well cap installed over the weekend could have stopped the flow of oil from the well by now, but plans to deploy it remain in limbo, with more updates expected in the coming hours.
On Wall Street, investors fretted, sending BP shares down nearly 2% at $36.30.
Kent Wells, senior vice president of BP /quotes/comstock/13*!bp/quotes/nls/bp (BP 36.09, -0.79, -2.14%) /quotes/comstock/23s!a:bp. (UK:BP. 400.55, -9.80, -2.39%) , said that experts are looking at technical analysis and procedures surrounding the pressure test, which will determine if the cap and tubing in the well will hold up to the enormous pressure from the flow of spewing oil.
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- Posted: 2010-07-14 13:50:37
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