Efforts to stem the Deepwater Horizon oil spill on top of which the new cap was located. The well integrity test was scheduled to take place after the installation of a three-ram capping stack over the lower marine riser package of the Deepwater Horizon semi-submersible rig on . On July 14, BP announced that the test would be delayed under Allen's orders; oil continued to flow into the Gulf. On July 15, 2010, BP announced that it had successfully plugged the oil leak using a tightly fitted cap. The cap, weighing 75 tons and standing high, is now bolted to the failed blowout preventer. It consists of a
Deepwater Horizon oil spill pension fund managers (who have large holdings of BP shares and rely upon its dividends) accepted that while BP had to pay compensation for the spill and the environmental damage, they argued that the cost to the company's market value from President Obama's criticism was far outweighing the direct clean-up costs. Initially, BP downplayed the incident; its CEO Tony Hayward called the amount of oil and dispersant "relatively tiny" in comparison with the "very big ocean." Later, he drew an outpouring of criticism when he said that the spill was a disruption to Gulf Coast residents and himself adding, "You