This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

'End to All Oil Spills' Technology Unveiled

The Interim Containment System works at depths of up to 8,000 feet -- the BP spill was at 5,000 feet below the water's surface, and can capture up to 60,000 barrels of oil per day -- the government and BP are still at odds over the exact oil flow estimate from the Macondo well spill, with 60,000 barrels being the upper end of the estimated oil flow range.

The system is available for deployment and has been reviewed by the federal government's Bureau of Ocean Energy Management, Regulation and Enforcement, the oil industry group said. It can be deployed within 24 hours and it already being stored on Texas and Louisiana coasts -- permanent sites are still being chosen.

Clay Vaughn, vice president of deepwater projects at ExxonMobil Development Company, said during a conference call with reporters on Thursday that the federal government's energy watchdog was on hand for a test of the new system on Wednesday.

Marty Massey, CEO of the Marine Well Containment Company, said in a statement, "The Marine Well Containment Company has successfully developed a solution for rapid well containment response.... This milestone fulfills a commitment set forth by the four original sponsor companies to deliver a rapid containment response capability within the first six months of launching the marine well containment project."

-- Written by Eric Rosenbaum from New York.


>To contact the writer of this article, click here: Eric Rosenbaum.

>To follow the writer on Twitter, go to Eric Rosenbaum.

>To submit a news tip, send an email to:

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
BP $42.50 0.00%
COP $67.23 0.00%
CVX $107.95 0.00%
RDS.A $63.48 0.00%
XOM $88.19 0.00%


DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs