Oil and Gas Production Shows Little Improvement

By Anonymous

Oil and gas production companies are barely making a dent in the job of recovering from hurricanes Katrina and Rita, according to the federal Minerals Management Service.About 68.2 percent, or a million barrels per day, of the normal 1.5 million barrels of daily Gulf oil production remains shut in because of the storms, Last Wednesday, 64.9 percent of production was shut in.Today’s shut in natural gas production is 55.6 percent or 5.6 billion cubic feet per day. Normally, 10 billion cubic feet of natural gas is produced in the Gulf each day. Last Wednesday, 52.2 percent of natural gas production was shut in.About 228 of the 819 manned drilling platforms and 17 of the 134 drilling rigs in the Gulf remain evacuated because of storm damage.

(Copyright 2005 Dolan Media Newswires)