BP says "static kill" progressing well

BP said on Wednesday its "static kill" operation to plug its blown out Gulf of Mexico well is progressing well.

"The MC252 well appears to have reached a static condition -- a significant milestone," the company said in a statement.

The company has stopped pumping drilling fluids into the well and is monitoring pressure inside, before deciding whether to pump more fluids down the well.

BP's shares were down 0.6 percent, in line with the STOXX Europe 600 Oil and Gas index at 4:19 a.m. ET.

"This would suggest that the static kill operation is looking successful," Peter Hitchens, oil analyst at Panmure Gordon said.

[Source: Reuters, 04Aug10]

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