BP has announced that it has finally stopped the flow of oil into the Gulf of Mexico.
It's been 85 days, 16 hours, and 25 minutes since the Deepwater Horizon oil rig exploded, killed 11 people and started an environmental disaster unlike any the United States has ever seen.
Communities along the Gulf of Mexico are breathing a sigh of relief, and the market has responded favorably to the news, giving BP a 5 percent bump to its share price.
Still, BP officials are quick to point out that this is not a permanent fix. For the first 48 hours, engineers are carefully watching the pressure on the wellhead, with higher pressure being desirable. Less than 6,000 pounds per square inch, means a leak somewhere else in the well.
BP vice president Kent Wells declared the well sealed at a 2:25 pm news conference, and summed up the situation:
"I am very pleased that there's no oil going into the Gulf of Mexico," he said. In fact, I'm really excited there's no oil going into the Gulf of Mexico."
BP is still continuing to drill two relief wells, which are expected to be finished in the next few weeks. The plan is to use the relief wells to fill the plugged well with mud and cement to guarantee a permanent fix.
Meanwhile, BP and federal and state authorities are turning their attention to the estimated 93.5 to 184.3 million gallons of crude oil that has already escaped into the Gulf of Mexico.