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Gulf Oil Production About 80% Shut-In Due to TS/Hurricane Isaac

The Bureau of Safety and Environmental Enforcement (BSEE) Hurricane Response Team reported earlier that some 78% of crude oil and 48.3% of the natural gas production has been shut-in by Tropical Storm Isaac (soon to be Hurricane Isaac).  As of…

By Jon C. Ogg
Published August 27, 2012, 3:18pm ET · 1 min read

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The Bureau of Safety and Environmental Enforcement (BSEE) Hurricane Response Team reported earlier that some 78% of crude oil and 48.3% of the natural gas production has been shut-in by Tropical Storm Isaac (soon to be Hurricane Isaac).  As of 3:00 PM EST this probably became 80% of oil and over 50% of that natural gas production.  There are many other companies of course which are affected, but this has companies such as BP plc (NYSE: BP), Exxon Mobil Corp. (NYSE: XOM), Chevron Corp. (NYSE: CVX), Apache Corp. (NYSE: APA), and Royal Dutch Shell PLC (NYSE: RDS-A) all on watch.

  • Personnel have been evacuated from a total of 346 production platforms, equivalent to 58.05 percent of the 596 manned platforms in the Gulf of Mexico.
  • Personnel have been evacuated from 41 rigs, equivalent to 53.9 percent of the 76 rigs currently operating in the Gulf.
  • It is estimated that approximately 78.02 percent of the current daily oil production in the Gulf of Mexico has been shut-in and that approximately 48.13 percent of the current daily natural gas production in the Gulf of Mexico has been shut-in.

As a reminder, here is a map of the oil and gas offshore infrastructure tracked by NOAA:

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Jon C. Ogg

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.

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