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Caused in the aftermath of a blowout and explosion on the Deepwater Horizon oil platform, the United States federal government estimated the total discharge at 4.9 MMbbl (210,000,000 US gal; 780,000 m 3). [ 3 ] After several failed efforts to contain the flow, the well was declared sealed on 19 September 2010. [ 10 ]
On 25 June, BP's market value reached a 1-year low. The company's total value lost since 20 April was $105 billion. Investors saw their holdings in BP shrink to $27.02, a nearly 54% loss of value in 2010. [65] A month later, the company's loss in market value totalled $60 billion, a 35% decline since the explosion.
National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling begins two days of hearings at the Hilton New Orleans Riverside [109] July 15 – BP test cuts off all oil pouring into the Gulf at 2:25 pm. [110] However Thad Allen cautions that it is likely that containment operations will resume following the test. [111]
BP declined to comment for this story, citing ongoing litigation 14 years after the spill. GETTING SICK After the explosion on April 20, 2010, the spill was spectacular.
When the BP Deepwater Horizon drilling rig exploded in 2010 and spewed many millions of gallons of oil into the Gulf of Mexico, the disastrous spill damaged the economy, devastated the environment ...
Deepwater Horizon was an ultra-deepwater, dynamically positioned, semi-submersible offshore drilling rig [7] owned by Transocean and operated by the BP company. On April 20, 2010, while drilling in the Gulf of Mexico at the Macondo Prospect, a blowout caused an explosion on the rig that killed 11 crewmen and ignited a fireball visible from 40 miles (64 km) away. [8]
But after more than a decade of litigation following the largest offshore U.S. oil spill, Maas may well be the only person to receive a BP settlement for his injuries through an individual lawsuit ...
Most are owned locally, under contract to buy BP fuel. [62] The Deepwater Horizon oil spill inspired new protests against all off-shore oil drilling, including the Greenpeace protest where activists painted "No Arctic Drilling" with spilled BP oil on the side of a ship in the Gulf en route to drill in the Arctic.