BHP (BHP) Gets Gulf Permit for Shenzi Well

BHP Billiton (NYSE:BHP) has received the second permit to resume drilling in the Gulf of Mexico since the oil spill from the BP (NYSE:BP) Macondo well. BP was a former partner in the well.

A BHP spokesman confirmed the announcement from the Bureau of Ocean Energy Management.

"We are very pleased to be resuming work," BHP spokesman Ruban Yogarajah said.

This follows the first permit issued since the accident, which was awarded to Noble Energy on February 28.

BHP is the operator of the well, with 44 percent ownership. Hess Corp and Repsol are partners, each with 28 percent ownership.

BHP closed Friday at $89.59, up $1.28, or 1.45 percent. Hess closed at $80.18, gaining $1.44, or 1.83 percent. BP was at $45.75, up $0.09, or 0.20 percent.