Economy

BP Alaska Well Still Leaking Gas as Plans Proceed to Close It

BP Alaska Well Still Leaking Gas as Plans Proceed to Close It

BP was fined $255 million by the state of Alaska for negligence in their maintenance of Prudhoe Bay pipelines. The production of the North Slope rose to about 565,000 Barrels per day in the month of March, which was the highest since the year 2013's month of December. Oil was spraying from a leak near the top of the well. The second leak is still leaking natural gas, as well as a small amount of crude oil said BP. The authorities have not established yet, what prompted the well to discharge oil and gas. The spill was discovered on Friday, and the oil leakage has since been contained but gas is still flowing from the well, according to the Alaskan Department of Environmental Conservation. "Overnight, the Unified Command achieved source control and killed the well".

Two leaks have been discovered as of Saturday afternoon, "The top leak was misting oil in conjunction with releasing natural gas", according to the report.

"At the risk of stating the obvious, we believe a well that still requires kill operations continues to experience some level of uncontrolled flow", Tudor Pickering Holt & Co., a Houston-based energy investment bank, wrote in a Monday note. The department said in an update that the village "has been notified of the incident and is receiving situation updates via these situation reports".

Though no injuries or damage to wildlife had been reported, crews trying to secure the well had failed amid biting winds blowing up to 38 miles an hour. That movement broke a well pressure gauge and temporarily delayed efforts to close off the well, the state said. Afterwards, BP must coordinate a cleanup with its internal oil spill response organization and Alaska Clean Seas, a nonprofit that specializes in oil spill response.

Alaskan North Slope crude was valued at $1.90 a barrel over U.S. benchmark West Texas Intermediate last Thursday.


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