HOUSTON, July 23 A shallow-water oil and gas well in the Gulf of Mexico off the coast of Louisiana blew out on Tuesday morning and 47 people were safely evacuated, government officials said.
Hercules Offshore, which owns the jackup rig that was drilling to prepare the Walter Oil & Gas well for production, said the company was working to regain control of the well.
Shares of Hercules were down 3.3 percent at $7.62.
The well is about 55 miles offshore in 154 feet of water.
The U.S. Bureau of Safety and Environmental Enforcement said the well was flowing gas but no oil was being released. It added there was a "light sheen" a half mile by 50 feet across that was dissipating.
Authorities have tightened safety regulations since the BP Plc 2010 Macondo blowout and oil spill that spewed more than 4 million barrels of crude into the Gulf.
WRAPUP 1-U.S. new home sales rise, median price surges to record high
WASHINGTON, June 23 New U.S. single-family home sales rose in May and the median sales price surged to an all-time high, suggesting the housing market had regained momentum.