HOUSTON (Reuters) – Nearly 30% of U.S. Gulf of Mexico production and 41% of its production remained offline on Saturday following Hurricane Francine, the U.S. offshore energy regulator said.

Francine churned through prime oil and gas producing areas in the U.S. Gulf of Mexico and slammed into Louisiana with up to 100 miles per hour (161 kph) winds. The midweek storm toppled trees, flooded coastal areas and knocked out power across four states. There were some 37,000 customers in Louisiana without power on Saturday.

A survey of energy producers showed more than 522,000 barrels of oil production and 755 million cubic feet of natural gas remained offline on Saturday, the Bureau of Safety and Environmental Enforcement said.

Cumulative offshore production losses this week due to Francine total 1.82 million barrels of crude oil and 4.12 billion cubic feet of natural gas, according to BSEE estimates.

There were 52 oil and gas platforms unmanned by energy workers on Saturday, about 14% of the total, down from 171 evacuated offshore platforms at peak earlier in the week, the offshore regulator said.

Two of Chevron (NYSE:)’s platforms were operating at reduced rates due to an onshore gas plant disruption, the company said on Saturday. Full production at the two – Jack/St. Malo and Big Foot – will resume after the onshore disruption is resolved, it said.

© Reuters. FILE PHOTO: A general view of a deep-water oil platform in the Gulf of Mexico, January 17, 2014. REUTERS/Henry Romero/File Photo

Chevron did not identify the operator of the gas plant.

The second-largest U.S. oil producer said it was continuing to return workers and restore oil production at its Anchor and Tahiti platforms that were shut-in ahead of hurricane Francine. Initial assessments show neither suffered significant damages, Chevron said.




Source link

Best Brokers

Unmatched trading fees, generous bonuses, top notch Regulation Frame.

T&Cs Apply

Risk disclosure: All investments involve a degree of risk of some kind. Trading financial derivative products comes with a high risk of losing money rapidly due to leverage.

Top-Tier Regulations. Unmatched Spreads and Commissions. Trading View is available.

T&Cs Apply

Financial Spread Trades and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.7% of retail investor accounts lose money when trading CFDs with this provider.

Modern and Intuitive Interfaces, Solid Regulatory Frame, and excellent Trading Fees.

T&Cs Apply
Risk warning: Trading derivatives is highly speculative, carries an inherent risk of loss and is not suitable for all investors. Before trading, you are strongly advised to read and ensure that you understand the relevant risk disclosures and warnings.

Highly Regulated. Low Spreads and Commissions. Vast Account Options.

T&Cs Apply

Risk Warning: Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment.