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
Ixtoc I oil spill Ixtoc I oil spill Ixtoc I was an exploratory oil well being drilled by the semi-submersible drilling rig "Sedco 135" in the Bay of Campeche of the Gulf of Mexico, about northwest of Ciudad del Carmen, Campeche in waters deep. On 3 June 1979, the well suffered a blowout resulting in one of the largest oil spills in history. Mexico's state-owned oil company Pemex (Petróleos Mexicanos) was drilling a deep oil well when the drilling rig "Sedco 135" lost drilling mud circulation. In modern rotary drilling, mud is circulated down the drill pipe and back up the well bore to