BP plc. (NYSE: BP) has shut-in a 43,000 barrel/day well in a North Sea field following the discovery of a small crack in a connecting pipeline. The leak has stopped and there is no oil visible on the surface according to BP.
Marathon Oil Corp. (NYSE: MRO) owns a stake in the well. The shut-down is expected to last for “weeks rather than months” a BP spokeperson told MarketWatch.
Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
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