BP is keeping a lid on its runaway Mancondo well in the Gulf of Mexico, despite four leaks that developed in and around the well since July 14, when BP installed new shut-off valves. BP and federal emergency response officials believe the well bore is sound; they will continue tests in 24-hour increments with the valves closed. BP and federal overseers agree the “seepage” is not enough to signal a failure of the well bore, although they are watching closely. Two leaks are in equipment at the wellhead, and two others are “a few thousand feet” and two miles away,
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.