Shares of oil and gas drillers slide to session lows following a Bloomberg report that drilling...

Shares of oil and gas drillers slide to session lows following a Bloomberg report that drilling regulators had directed offshore operators to halt work on some oil and gas wells in the Gulf of Mexico after discovering faulty bolts on equipment used to prevent blowouts. Replacing all bolts on blowout preventers could cost millions, Rowan (RDC) CEO Matt Ralls says.

Comments (12)
  • SoldHigh
    , contributor
    Comments (991) | Send Message
    Was anything learned from the BP disaster in the gulf?


    Makes one wonder where the quality control is concerning critical parts.
    6 Feb 2013, 03:18 PM Reply Like
  • sailthesound
    , contributor
    Comments (213) | Send Message
    I think the answer is yes although some might question whether it was enough.


    What makes this interesting though is that they discovered this during procedures that probably would not have been followed prior to BP.


    FWIW. I read a lot of well reports and I see BOPS testing on an almost religious basis. If you're a worker on a rig, at sea or ashore, that piece of gear can save your life, or if it's screwed up like the BP gear, take your life and a lot of others. Drilling is dangerous enough and BP gave safety conscious workers some heft.


    Not to mention BP's profile is mostly outta here which is good riddance.
    7 Feb 2013, 12:14 AM Reply Like
  • ttrombold
    , contributor
    Comments (12) | Send Message
    How does this impact SeaDrill (sdrl) they doing that much in the gulf?
    6 Feb 2013, 05:00 PM Reply Like
  • sailthesound
    , contributor
    Comments (213) | Send Message
    Probably not at all, as long as they're not responsible for the BOPS.


    They're there on so much per day with their rigs whether they're drilling or not as long as it's not their fault that drilling has stopped. In fact, they'll be involved in pulling up the units if necessary and replacing them.
    7 Feb 2013, 12:21 AM Reply Like
  • elliot_mllr
    , contributor
    Comments (1969) | Send Message
    Traders are certainly non-specific thinkers if that causes a selloff in exploration and production companies--and even midstream gatherers, processors, pipeline and storage companies--which operate onshore.
    Elliot Miller
    6 Feb 2013, 05:13 PM Reply Like
  • redink
    , contributor
    Comments (120) | Send Message
    This should really help gasoline prices. Replacement will likely cost consumers and investors much more than the oil companies and probably won't prevent a single oil spill We can't automatically blame the oil companies for everything that goes wrong, even though that apparently makes most liberals feel good. The crappy bolts were very likely manufactured by an American labor union worker who probably is a liberal Democrat who voted for Obama. If the manufacturer's quality control is the problem they should pay for the replacement.
    6 Feb 2013, 05:38 PM Reply Like
  • crabbyjim
    , contributor
    Comments (35) | Send Message
    Those crappy bolts are more likely to have been manufactured in some foreign plant where people work in slave labor conditions and get slave labor pay because some Republican businessman thought he could make a little more profit. So he closed his plants in the U.S., told his employees and the community the plant was in to go to hell and opened a big bank account in the Cayman Islands.
    6 Feb 2013, 06:23 PM Reply Like
  • doghousecontributor
    , contributor
    Comments (3154) | Send Message
    to redink.....get off your Obama evil bandwagon, and quit blaming union workers. Get with it you jerk. If not for unions, this country would be 3rd world, as companies love to stiff workers. For Obama to blame crap on, you really have been drinking too much republican koolaid. Your party lost, because they're idiots. I am actually a Independent, and only wish for both parties to get with fixing America. So tired of you armchair computer quarterbacks, blaming everyone else.
    6 Feb 2013, 08:33 PM Reply Like
  • chly2609
    , contributor
    Comments (9) | Send Message
    I don't recall WLL and QEP drilling in the gulf of mexico.
    Why are they featured in the headline?
    6 Feb 2013, 05:38 PM Reply Like
  • MexCom
    , contributor
    Comments (3077) | Send Message
    I too got this alert from being a WLL stockholder. I don't think Federal regulators will be traveling up to North Dakota to check on their "off shore drilling rig bolts" Its below zero cold right now and any drilling on water would be into solid ice, LOL.
    7 Feb 2013, 05:40 AM Reply Like
  • CaptKorn
    , contributor
    Comments (154) | Send Message
    This issue may have no impact on SDRL so there!
    6 Feb 2013, 10:03 PM Reply Like
  • graham downunder
    , contributor
    Comments (246) | Send Message
    Bet no one considered what the cost would be to replace bolts 5000ft below the surface .A metallurgist should have xrayed and checked these things ,but I bet they used a cheap supplier and they used a cheap bolt manufacturer etc. This should not really affect profits as there is always stuff ups, delays etc ,and companies build this into their estimates and time frame .
    7 Feb 2013, 01:55 AM Reply Like
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