Tom Winship
07-17-2010, 11:48 AM
As I understand it, BP has concerns that the pressure on the Gulf well is lower than they thought it would be (6500 psi, I think). I am not a resovoir engineer, but I know that resovoirs deplete over time when flowing.
This well has flowed for almost 3 months and has flowed almost 2 1/4 million barrels (low estimate).
Does it not make sense that the pressure would be lower than it was at the time of the explosion.
Along similar lines (and I haven't checked this out), I got an e-mail yesterday saying the $20 billion would actually make BP $7 billion. Because an accrual has to be taken according to GAP (general accounting principles), and coupled with the dividend savings, the tax impact will increase their profit by $7 billion. As I say, I won't vouch for this, but I have not seen a lot of kicking and screaming!
This well has flowed for almost 3 months and has flowed almost 2 1/4 million barrels (low estimate).
Does it not make sense that the pressure would be lower than it was at the time of the explosion.
Along similar lines (and I haven't checked this out), I got an e-mail yesterday saying the $20 billion would actually make BP $7 billion. Because an accrual has to be taken according to GAP (general accounting principles), and coupled with the dividend savings, the tax impact will increase their profit by $7 billion. As I say, I won't vouch for this, but I have not seen a lot of kicking and screaming!