BP: Cement Plug Has Hardened

The oil company says the cement plug blocking its broken Gulf of Mexico oil well has hardened, paving the way for final drilling of a relief well.
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NEW ORLEANS (

TheStreet

) --

BP

(BP) - Get Report

said Sunday that the cement plug sealing its broken oil well in the Gulf of Mexico had hardened, according to published media reports.

The company said pressure tests on the plug show that it's solidly in place, the

Associated Press

reported.

The successful tests mean BP can begin drilling the last 100 feet of a relief well that it hopes will permanently seal the broken well, the

AP

reported.

The company will continue drilling the relief well about 30 feet at a time, and BP says it will probably take until next weekend for the relief well to meet the broken well, according to the

AP

.

The company hopes to use the relief well to conduct what is called a "bottom kill," in which it will pump mud and cement through the relief well into the broken well, the

AP

noted.

BP shares closed Friday up 61 cents at $41.33.

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This article was written by a staff member of TheStreet.