I think what happened was that a previously undetected reservoir of nat gas found it's way to the well and began expanding, pushing the oil and anything else in it's way out to the surface. The well went out of spec. They did not catch it in time and likely could not have stopped it anyway. Then the BOP failed and that was that.
Yes, it sounds like that's what happened, but evidently this did not occur until the mud in the drill string was replaced with seawater. Also, I've read in a number of places that the fact that the gas found its way into the upper levels of the well may be related to improper cementing of the casing lower down.