Officials are saying it will not be as damaging as back in 2010. The fire is located just 150 miles from that bp oil spill where that happened. Connell the rig operator is hercules offshore. The stock price today is down by a little more than 4 . Dagen phil flynn is in the pits of the cmb with more on this. It has backed off. As far as the Market Impact of this particular blowout right now, it is not that much. This particular well was not in production. We had this rig getting ready to prepare for more production down the road. They already knew that they had a problem with this well. It was trying to fix the problems that they already had with this well. The impact is about tighter regulation in the gulf of mexico. Regulations became a lot more stringent. There is a concern that a mishap like this could make it even more difficult to bring production online in the future. This is a Shallow Water rig. They have a lot of experience with tapping these kinds of rigs in Shallow Water. It
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