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Upstream producers restore nearly 33,000 b/d of US Gulf oil output as Hurricane Ian moves ashore Florida

Highlights

157,700 b/d of oil still shut, or 9% of US Gulf output

128,000 Mcfd/d of natural gas output still shut in

  • Author
  • Starr Spencer
  • Editor
  • Jim Levesque
  • Commodity
  • Electric Power Energy Transition Natural Gas Oil

Upstream producers in the US Gulf of Mexico restored nearly 33,000 b/d of oil production during the last 24 hours as Hurricane Ian moved ashore Florida Coast, updated federal production statistics showed Sept. 28.

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Nearly 157,700 b/d of oil output in the US Gulf remained shut in Sept. 28, or about 9% of total crude production in the region, down from 190,400 b/d (11% of total) a day earlier, according to the US Bureau of Environmental Enforcement.

In addition, 128,000 Mcf/d, or 6%, of natural gas production is still shut in, down from 184,000 Mcf/d, or 8.6%, Sept. 27, BSEE said.

Hurricane Ian, a powerful storm packing fierce winds as it lands along Florida's West Coast, managed to steer clear of the US Gulf's producing areas. As a result, producers did not shut in much production in that arena. .

Eleven US Gulf platforms still were evacuated Sept 28, or just about 2% of all US Gulf platforms. That compares to 12 a day earlier, while five rigs remained evacuated—a little more than one-third of all rigs in the region—versus two a day earlier.

After strengthening over Sept. 26 and 27, medium sour crude Mars weakened on Sept. 28 after Hurricane Ian's path stayed clear of heart of Gulf of Mexico production and operators returned output.

Mars was last heard offered at an 80 cents/b discount to cash WTI on Sept. 28 and last heard bid at a $1.20/b discount, levels that are weaker from the 75 cents/b discount to cash WTI Mars was last heard to trade Sept. 27.

Chevron earlier shut in production and evacuated crews from its deepwater Petronius and Blind Faith platform Sept. 26, but so far the company has not said whether it has restored production or returned crews to the hubs.

BP on Sept. 27 said it was in the process of redeploying crews to its deepwater Na Kika and Thunder Horse platforms which it had evacuated a day earlier, as well as shut in those platforms' production.

The US Gulf produces about 1.7 million b/d of crude oil and about 2.2 Bcf/d of natural gas from federal leases. That is about 14% of total domestic crude oil production and about 2% of 106 Bcf/d of total US natural gas output, according to US Energy Information Administration figures.