An apparatus for use in containing fluid or gas that is released upon disconnection of a threaded joint between sections of pipe or between a Kelly and a pipe section, the apparatus comprising: at least two arcuate sections (16 and 18) of a generally tubular housing having upper and lower ends and outer and inner surfaces, the sections hinged together and configured to substantially enclose the threaded joint thereby providing a generally cylindrical enclosure disposed about the threaded joint; a handle disposed on at least one arcuate section; at least one upper groove disposed on the inner surface of the upper end of each arcuate section whereby at least one upper circumferential groove is formed on the inner surfaces when the arcuate sections are enclosed about the threaded joint; at least one lower groove disposed on the inner surface of the lower end of each arcuate section whereby at least one lower circumferential groove is formed on the inner surfaces when the arcuate sections are enclosed about the threaded joint; sealing means (44 and 46) disposed in the at least one upper and lower circumferential grooves for providing a sealing contact with the Kelly or with the drilling pipe when the arcuate sections are enclosed about the threaded joint; latching means for releasably latching the arcuate sections together when the housing is enclosed about the threaded joint, the latching means comprising at least one latching mechanism; and a spout disposed on the outer surface of at least one arcuate section near the lower end and above the at least one lower groove, the spout configured to provide communication between the outer and inner surfaces thereby providing a path for drilling fluid to flow through when the arcuate sections are enclosed about the threaded joint and the threaded joint is disconnected; said apparatus being characterized in that: A) at least the one upper and lower grooves further comprise a T-shaped slot; and the sealing means comprises arcuate seal sections (44 and 46) further comprising a T-shaped profile configured to be removably inserted in the T-shaped slot of the at least one upper or lower groove; and/or B) at least the sealing means comprises cross-linked polyethylene foam plastic; the arcuate seal section disposed in the at least one upper groove comprises a first foam density; the arcuate seal section disposed in the at least one lower groove comprises a second foam density; and whereby the first foam density is not equal to the second foam density. at least two arcuate sections (16 and 18) of a generally tubular housing having upper and lower ends and outer and inner surfaces, the sections hinged together and configured to substantially enclose the threaded joint thereby providing a generally cylindrical enclosure disposed about the threaded joint; a handle disposed on at least one arcuate section; at least one upper groove disposed on the inner surface of the upper end of each arcuate section whereby at least one upper circumferential groove is formed on the inner surfaces when the arcuate sections are enclosed about the threaded joint; at least one lower groove disposed on the inner surface of the lower end of each arcuate section whereby at least one lower circumferential groove is formed on the inner surfaces when the arcuate sections are enclosed about the threaded joint; sealing means (44 and 46) disposed in the at least one upper and lower circumferential grooves for providing a sealing contact with the Kelly or with the drilling pipe when the arcuate sections are enclosed about the threaded joint; latching means for releasably latching the arcuate sections together when the housing is enclosed about the threaded joint, the latching means comprising at least one latching mechanism; and a spout disposed on the outer surface of at least one arcuate section near the lower end and above the at least one lower groove, the spout configured to provide communication between the outer and inner surfaces thereby providing a path for drilling fluid to flow through when the arcuate sections are enclosed about the threaded joint and the threaded joint is disconnected; said apparatus being characterized in that: A) at least the one upper and lower grooves further comprise a T-shaped slot; and the sealing means comprises arcuate seal sections (44 and 46) further comprising a T-shaped profile configured to be removably inserted in the T-shaped slot of the at least one upper or lower groove; and/or B) at least the sealing means comprises cross-linked polyethylene foam plastic; the arcuate seal section disposed in the at least one upper groove comprises a first foam density; the arcuate seal section disposed in the at least one lower groove comprises a second foam density; and whereby the first foam density is not equal to the second foam density. A) at least the one upper and lower grooves further comprise a T-shaped slot; and the sealing means comprises arcuate seal sections (44 and 46) further comprising a T-shaped profile configured to be removably inserted in the T-shaped slot of the at least one upper or lower groove; and/or B) at least the sealing means comprises cross-linked polyethylene foam plastic; the arcuate seal section disposed in the at least one upper groove comprises a first foam density; the arcuate seal section disposed in the at least one lower groove comprises a second foam density; and whereby the first foam density is not equal to the second foam density.