Sometime this morning, BP will close the valves of a cap that was installed last night. If the procedure works, the leak should stop entirely.
Lots of caveats: First of all, this closing procedure is part of a well integrity test. Even a successful test could be followed by re-opening of the valve and a several-day period to test results, senior VP Kent Wells said in a call this morning.
Second, there are those unconfirmed reports of oil leaking from the sea bed.
Third, BP has disappointed us many times before.
However, Wells sounds optimistic. Regarding last night’s cap installation he said: “[Weeks of] practicing and testing allowed this to go just incredibly well.”
Watch this video closely:
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.