Encana Corp., the Canadian energy producer seeking to boost investor returns by shifting toward crude, is doubling its oil output with a $3.1 billion purchase of shale lands from Freeport-McMoRan Copper & Gold Inc.
BP Plc expects tonight to sink the edges of a 40-foot-tall steel chamber into the mud 5,000 feet (1,524 meters) under the surface of the Gulf of Mexico to capture most of the oil that’s leaking from its Macondo well.
BP Plc hopes today to stop one of three leaks from its Gulf of Mexico well that has been spurting oil since an offshore rig burned and sank April 22, Doug Suttles, chief operating officer of exploration and production, said.
BP Plc said it may attempt to plug an oil leak 5,000 feet (1,524 meters) below the surface of the Gulf of Mexico next week by stuffing it with drilling mud, a procedure that has never been tried that deep.
Encana Corp., Canada’s largest natural gas producer which is seeking to boost investor returns by shifting to oil, said it will sell its Jonah field operations in Wyoming to private-equity fund TPG Capital for $1.8 billion.