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 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.
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 is lowering and placing on the seafloor a 40-foot-tall steel chamber that represents its best hope of stopping its Macondo well from spewing oil into the Gulf of Mexico until the flow can be fully stanched.
The amount of oil coming out of a leaking BP Plc well could surge if plans to cover it with a containment dome don’t succeed, Representative Edward Markey said yesterday after a meeting with industry executives.
BP Plc added golf balls and rubber scraps to the mud it was pumping into its leaking Gulf of Mexico oil well in an effort to stop the spill that Chief Executive Officer Tony Hayward called an “environmental catastrophe.”