<P> There are 27,000 abandoned oil and gas wells beneath the Gulf . These have generally not been checked for potential environmental problems . </P> <P> In June 1979, the Ixtoc I oil platform in the Bay of Campeche suffered a blowout leading to a catastrophic explosion, which resulted in a massive oil spill that continued for nine months before the well was finally capped . This was ranked as the largest oil spill in the Gulf of Mexico until the Deepwater Horizon oil spill in 2010 . </P> <P> On April 20, 2010, the Deepwater Horizon oil platform, located in the Mississippi Canyon about 40 miles (64 km) off the Louisiana coast, suffered a catastrophic explosion; it sank a day - and - a-half later . It was in the process of being sealed with cement for temporary abandonment, to avoid environmental problems . Although initial reports indicated that relatively little oil had leaked, by April 24, it was claimed by BP that approximately 1,000 barrels (160 m) of oil per day were issuing from the wellhead, about 1 - mile (1.6 km) below the surface on the ocean floor . On April 29, the U.S. government revealed that approximately 5,000 barrels (790 m) per day, five times the original estimate, were pouring into the Gulf from the wellhead . The resulting oil slick quickly expanded to cover hundreds of square miles of ocean surface, posing a serious threat to marine life and adjacent coastal wetlands, and to the livelihoods of Gulf Coast shrimpers and fishermen . Coast Guard Rear Adm. Sally Brice O'Hare stated that the U.S. government will be "employing booms, skimmers, chemical dispersants and controlled burns" to combat the oil spill . By May 1, 2010, the oil spill cleanup efforts were underway, but hampered by rough seas and the "tea like" consistency of the oil . Cleanup operations were resumed after conditions became favorable . On May 27, 2010, The USGS had revised the estimate of the leak from 5,000 barrels per day (790 m / d) to 12,000--19,000 barrels per day (3,000 m / d) an increase from earlier estimates . On July 15, 2010, BP announced that the leak stopped for the first time in 88 days . </P> <P> In July 2015 BP reached an $18.7 bn settlement with the US government, the states of Alabama, Florida, Louisiana, Mississippi and Texas, as well as 400 local authorities . To date BP's cost for the clean - up, environmental and economic damages and penalties has reached $54 bn . </P>

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