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More Than 10 Percent of Annual Energy Production Shut in Since August

Posted on: Monday, 7 November 2005, 03:00 CST

By Anonymous

Nearly 13 percent of the yearly Gulf of Mexico oil production and 10 percent of annual natural gas production have been knocked offline as a result of hurricanes Katrina and Rita.About 70.6 million barrels of oil have been shut in since Aug 26 when companies began shutting operations down ahead of Hurricane Katrina. That represents 12.9 percent of the approximately 547.5 million barrels of oil produced each year in the Gulf.About 359.2 billion cubic feet of natural gas have been shut in during the same period, about 9.8 percent of the 3.7 trillion cubic feet produced annually in the Gulf.About a million barrels of daily oil production, or 68.2 percent of daily production, remain shut in due to the storms. Last Thursday, 64.5 percent of production was shut in.Today's shut in natural gas production is 5.6 billion cubic feet of daily production, or about 55.6 percent of the 10 billion cubic feet of natural gas produced in the Gulf each day under normal circumstances. About 52 percent of natural gas production was shut in last Thursday.At least 228 of the 819 manned drilling platforms and seven of the 134 manned drilling rigs remain evacuated because of storm damage.

(Copyright 2005 Dolan Media Newswires)

Source: New Orleans CityBusiness

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