Pros And Cons Of A Drilling Rig

On April 20, 2010, the petroleum industry suffered the largest maritime disaster oil spill in its history known as the Deepwater Horizon oil spill. The Deepwater Horizon oil rig that had been working on a well for BP in the Gulf exploded and went up in flames. Subsequently, massive amounts of oil spilled out into the water, threatening the marine life and those living on the shore. The fire burned for 36 hours before the rig sank into the ocean, leaking dangerous chemicals into the water. Hydrocarbons and oil continued to leak into the Gulf of Mexico for 87 days before they managed to seal the well. “The Gulf spill, which left 11 workers dead and 17 injured, is about the size of Rhode Island, running across the northern Gulf of Mexico between the mouth of the Mississippi River and Florida. It runs wide, threatening the coastlines, and deep, traveling beneath about 5,000 feet of water and 13,000 feet under the seabed,” (Emami, 2010). BP faced an angry uproar from the media, consumers, and environmentalists all over the world. The economy and the environment suffered greatly because of this incident. As investigations began, speculations quickly arose about the morals and capability of the company. The one positive image of BP had been shattered. Customers lost faith in the company and criticized the actions of its executives. Tony

The oil spill in the Gulf of Mexico occurred because “oil from the well shot up and out of the drill column under high pressure, extended on the drilling rig and exploded (wikipedia)”. The rig set on fire and later sank. BP, Transocean, along with government agency employer, all worked hard to avoid further spread of the oil.

The rig was built by South Korean company Hyundai Heavy Industries. The rig was drilling a 35,050 feet (10,680 m) deep exploratory well in approximately 5,100 feet (1,600 m) of water. The well is situated in the Macondo Prospect in Mississippi Canyon Block 252 (MC252) of the Gulf of Mexico, whilst also maintained by Halliburton, and Transocean the rig was majority owned and operated by the British Petroleum. On April 20, 2010, high-pressure methane gas from the well expanded into the drilling riser and rose into the drilling rig, where it ignited and exploded, engulfing the platform. At the time, 126 crew members were on board: seven BP employees, 79 of Transocean and employees of various other companies. Eleven workers were presumed dead, never being found. The Deepwater Horizon sank on the morning of 22 April 2010. The efforts to contain the leak at first were unsuccessful due to miscalculations and misinterpretations of what was required. However, on September 19, 2010 the well was permanently sealed when a relief well was dug into the oil deposit and cement was poured into the oil well. The environmental impact, health consequences, economy and ultimately the death of the 11 workers were the consequent issues that arose with the tremendous release of oil into the ocean. These consequent problems were in part due to negligence as well as BP’s failure to fulfill their corporate ethical duties.

The Deepwater Horizon was a nine year old, ultra-deepwater, dynamically positioned, semi-submersible, offshore drilling rig built in South Korea. In 2008, British Petroleum (BP) leased it from Transocean to drill for oil in the Gulf Coast. In September 2009, the rig drilled the deepest oil well in history at a depth of 35,055-feet. On April 20, 2010 while drilling the rig exploded at 9:45PM (CST), killing eleven workers and injuring seventeen others. It was caused when methane gas from the well shot all the way up and out of the drill column, expanded onto the platform then ignited and exploded. The explosion then led the rig to burn, with the resulting fire unable to be extinguished 2 days later it sinked leaving

The Deepwater Horizon oil spill disaster that took place in the Gulf of Mexico in April 2010 is the largest oil spill to have ever occurred in USA waters. As efforts to hold the current spill continues, the higher chances of clean up damage compensation technique, and also enhancing prevention of future oil spill responses and recovery. The rig was owned and under the operation of Transocean, a Switzerland-based offshore drilling firm, and leased to BP plc, one of the biggest oil firms in the world. The explosion and fire that led to eleven fatalities and several injuries took place despite specialized oil spill prevention equipment also known as a blowout preventer, which is designed to avert such a kind of disaster. The quantity

The Deepwater Horizon Oil Spill occurred on April 20, 2010 in the Gulf of Mexico. This oil spill was the largest spill in history in front of the Exxon Valdez oil spill of 1989. This oil spill released about 4.9 million barrels of oil into the ocean. This spill not only wreck havoc on the marine life but also the economic players that depended on ocean such as fisherman, tourism, and offshore drilling located along the gulf coast. Along will the spill the oil rig which was named Deepwater Horizon also went up in flames. This proved that the issue went far beyond just an oil rig that blew a line. Since this oil spill had drastic impacts all along the coast, BP which was the most liable for this incident faced criminal charges based on what happened. BP which knew the risks of deep ocean drilling failed to take the necessary safety procedures to reduce the risks of such incident occurring, thus was the reasoning behind placing most of the fault on them and not the other companies. The lack of regulatory oversight led to the issues and cost-cutting procedures opened the rig up to possible malfunctions like the one that occurred. During the spill into the gulf, BP sealed the well with cement which seemed to stop a majority of the oil from escaping the well. BP also recognized that the well was “dead” which was proven wrong when scientists still could conclude was leaking minor amounts of oil into the ocean. This spill not only proved to be harmful to the environment but also

In April 20, 2010 Deepwater Horizon was in very deep water, and put a dynamic and semi-submersible offshore drilling owned by Transocean. Manipulation, while drilling in the Macondo Prospect, causing the explosion can not be controlled explosion on a platform in which 11 crew members were killed and ignited a fireball visible from 40 miles (64 km) away

Environmentalists are one the biggest critics against the notion of increasing domestic oil drilling. By increasing the amount of drilling we do in the United States, we increase the risk of disasters like the Deepwater Horizon spill in the Gulf of Mexico. Disasters are hardly the only source of economic damage either, to find oil reserves under the ocean, seismic waves are generated into the ground. These waves bounce off the ground back up to the ship, where computers and scientist can use the results to make educated guesses on whether or not oil is located under the surface. These seismic waves can wreak havoc with marine animals like whales; where in one case over 100 whales beached themselves to get away from the painful experience (Nixon). Using seismic waves does not even guarantee that oil might be located underneath the surface, the only way to tell is to actually drill into the potential finds causing even more destruction for what might be for no gain. Once oil is found and drilling has begun, the amount of damage done to the environment can become unimaginable. The recent example is that of the Deepwater

These social responsibilities and many other ethical issues were realized by many people when on April 20, 2010 British Petroleum had a major oil spill in the Gulf of Mexico. Also, known as the Deepwater Horizon Oil Spill, the BP Oil Disaster, the Gulf of Mexico Oil Spill, or the Macondo Blowout. BP was mostly at fault, but Transocean, the rig operator, and Halliburton, the contractor,

Since the Deepwater Horizon explosion happened nearly six years ago there have been countless reports on the explosion and scientific studies on what cause it as well as its impact. There have also been investigations into the internal workers of BP and they concerns about the rig prior to the explosion. This case brings up social, political and environmental issues to light and the approaches BP had to each of these issues.

On April 20, 2010, the Deepwater Horizon oil rig, located in the Gulf of Mexico exploded killing 11 workers and injuring 17. The oil rig sank a day-and-a-half later. The spill was referred to as the Deepwater Horizon oil spill, BP oil spill, Gulf of Mexico oil spill, and BP oil disaster. It was first said that little oil had actually leaked into the ocean but a little over a month later the estimate was 12,000-19,000 barrels of crude oil being leaked per day. Many attempts were made to stop the leak but all failed until they capped the leak on July 15, 2010, and on September 19 the federal government declared the well “effectively dead.” In the three months that it took to finally put a stop the leak, 4.9 million barrels of oil were

On April 20, the explosion on the Deepwater Horizon drilling rig in the Gulf of Mexico led to the largest accidental release of oil into marine waters in history. As a result, a huge loss of money and life was caused and affected serious environmental damage to wild animals and water pollution. BP was accused of their irresponsibility that it took 87 days before the well was closed and sealed. BP’s shares

The objective of this paper is to showcase and explain the costs and losses of the explosion and sinking of the Deep Water Horizon Drilling Platform owned by Transocean and leased by BP Oil and the sea-floor oil gusher that flowed through 87 days in the Gulf of Mexico. We will showcase the costs and loses from the beginning of the disaster, which was in April 20th to until the oil flusher was capped on, which was in July 15th. Moreover, we will show the consequences and legal actions that were taken after the disaster occurred to minimize damages and loses caused by the disaster.

The issue of whether offshore oil drilling is a safe operation or not has been arguing for a long time in the United States. ( SPE International, N.D.) Drilling on water started in early 1930s in Louisiana by shallow-draft barges. Nevertheless, the first oil well on water was drilled in 9th of September, 1947 by Kerr-McGee’s unit Tender Assist Drilling (TAD) in the Gulf of Mexico (SPE International, N.D.). A year after year, oil companies used more and more sophisticated equipment to drill on water, but the number of spilled accidents has been rising since 1964 (Ivanovich, and Hays, 2008). After all, while

Deepwater Horizon oil Spill: BP’s drilling platform in the Gulf of Mexico had an explosion in April 2010, causing the “largest oil spill catastrophe in the petroleum industry history”. It caused the death of 11 men and injury to several others. “More than 150,000 barrels of crude oil gushed into the sea, every day, for almost 5 months and up to 68,000 square miles of the Gulf 's surface were covered” (1).