BP Is Capturing About Half The Oil Coming Out Of The Broken Well

Jillian Bandes | June 07, 2010 9:21 AM

That's only a tentative estimate — they will need a few days to determine the actual success of the latest top hat redux containment attempt. Meanwhile, Bloomberg

reports that the cost is soaring to about $27 million a day.

A new cap over the well is capable of collecting the “vast majority” of the oil gushing out, Chief Executive Officer Tony Hayward said in an interview with the British Broadcasting Corp. yesterday. The U.S. Coast Guard said that the Gulf will be under “siege” from oil pollution until the fall.

“It will be a few days before an assessment can be made as to the success of this containment effort,” BP said in today’s statement. A containment cap “never before has been deployed at these depths and conditions, and its efficiency and ability to contain the oil and gas cannot be assured.”