Spewing

Well control experts succeeded in plugging Chesapeake Energy Corp.’s runaway oil well that had been spewing natural gas and drilling mud since last Tuesday near the town of Douglas, WY, in part of the Niobrara Shale formation in Converse County. Crews managed to reduce the pressure and regain control by plugging the well with mud.

U.S. resource plays that are spewing out natural gas and oil have virtually cleared producer calendars of speculative drilling and made for an energy supply bounty that is becoming the envy of numerous companies around the world, speakers at a Houston energy conference said.

An estimated $1.2 billion in economic output and 17,000 jobs will be lost in the Gulf Coast states by the end of the year even if the spewing oil flow is permanently plugged by next month, according to a report issued by Moody’s Analytics Monday.

The apparatus collecting oil and natural gas spewing from BP plc’s blown Macondo well a mile below the surface of the Gulf of Mexico (GOM) prevented 11,100 bbl of oil from flowing into the GOM on Sunday, according to press reports.

Attorney General Eric Holder last Tuesday said the government is conducting criminal and civil investigations into the spewing oil leak in the Gulf of Mexico, which is now moving into its seventh week.

Following the weekend failure of the last best hope to collect oil spewing from a ruptured well a mile below the surface of the Gulf of Mexico (GOM), Monday brought talk of a “top hat” and “junk shots” — the latest ideas on how to collect leaking oil or seal the well — from BP plc CEO Tony Hayward.

With the Royal Bank of Scotland (RBS) spewing red ink and heavily propped up by the British government, the high-profile, highly profitable joint venture trading operation between a unit of the bank and San Diego-based Sempra Energy has become the subject of much speculation and questioning.

With the Royal Bank of Scotland (RBS) spewing red ink and heavily propped up by the British government, the high-profile, highly profitable joint venture trading operation between a unit of the bank and San Diego-based Sempra Energy has become the subject of much speculation and questioning.