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Hercules Well Catches Fire after Tuesday Blowout

The Associated Press is reporting that a well off the coast of Louisiana that suffered a blowout Tuesday, has caught fire.

The well, operated by Hercules Offshore (NASDAQ: HERO) suffered a blowout late Tuesday morning. 47 people were evacuated from the offshore platform as it spewed natural gas into the Gulf of Mexico. Aerial photos showed a small sheen on the surface of the water but it was quickly dissipating.

Read our previous coverage of this story here.

Hercules hired Wild Well Control Inc., to bring it under control but they deemed it unsafe to get any closer than 200 feet. They made this determination prior to the fire.

Earlier this month, a gas well off the Louisiana coast blew out and flowed for several days before being brought under control.

[stock-tools exchange="NASDAQ" symbol="HERO" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author was long the mentioned stock.

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