I've been seeing these reports, but am not quite clear...
Did they just spill all the oil? They didn't say they stopped the oil, they said the oil stopped, insinuating to me that it ran dry, meaning every last drop that was in that reserve is now in the gulf.
Yes/No?
No. The reservoir is BILLIONS of gallons. It is approximately 25-30% depleted according to what I have heard. One of the reasons the cap was successful this time is that after a bleed off of 25%+/- of volume, the internal pressures have also dropped and the flow rate decreased - making it much easier to get a cap on the well. This always happens as wells are produced, and then a company such as the one I work for can come in and restimulate the well to increase pressures again and force the oil to the surface at a faster rate.
This is still a highly valuable reservoir, but i am not sure how much time will have to lapse before BP can tap it again.
Man, the oil business is just rife with sexual inuendo, isn't it?
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