"Officials stressed that Tuesday's blowout wouldn't be close to as damaging as the 2010 BP oil spill, in which an oil rig, the Deepwater Horizon, exploded off the Louisiana coast, killing 11 workers and eventually spewing millions of gallons of oil into the Gulf of Mexico."
According to the BSEE, "inspectors reported a cloud of natural gas above the rig and a light sheen on the water one-half mile by 50 feet in area that is quickly dissipating." A firefighting vessel was said to be on the scene.
Update at 12:55 p.m. ET. Rig Has Partially Collapsed:
A BSEE spokesman tells NPR that beams supporting the rig have "folded" and the structure has partially collapsed.