BP stock prices again fell. By January 2007, the explosion, coupled with a pipeline spill in Alaska and production delays in the Gulf of Mexico, left BP's stock down 4.5% from its position prior to the Texas City explosion. However, by April 2007, stocks had rebounded 13% erasing the 8.3% loss from 2006. Declining oil prices and concerns over oil sustainability also caused shares to fall in value in late 2008. The Deepwater Horizon oil spill in April 2010 initiated a sharp decline in share prices, and BP's shares lost roughly 50% of their value in 50 days. BP's shares reached
Offshore oil and gas in the Gulf of Mexico (United States) blowout) began on April 20, 2010, in the Gulf of Mexico on the BP-operated Macondo Prospect. Killing eleven people, it is considered the largest marine oil spill in the history of the petroleum industry and estimated to be 8% to 31% larger in volume than the previous largest, the Ixtoc I oil spill. In 2012, federal leases in the Gulf of Mexico produced of oil, which made up 19.5% of all U.S. oil production that year, and more than that of any U.S. state other than Texas. The 2012 production was less than the in 2009; however, due to new