trending Market Intelligence /marketintelligence/en/news-insights/trending/fbax7ymbX_ppfVrM_cYCEw2 content esgSubNav
In This List

Nate-related oil, gas production shut-ins continue to drop

Video

S&P Capital IQ Pro | Powering Your Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Enterprises are missing out on 24B by not optimizing cloud spending not going multicloud


Nate-related oil, gas production shut-ins continue to drop

Offshore oil and natural gas production in the Gulf of Mexico continues to ramp up after Hurricane Nate forced the evacuation of more than 300 platforms through Oct. 7.

In a report released Oct. 12, the U.S. Bureau of Safety and Environmental Enforcement, or BSEE, estimated that less than 0.4 Bcf/d of natural gas production in the Gulf of Mexico is still shut-in, down from a peak of 2.5 Bcf/d reported offline Oct. 8. The amount of production currently idled is equal to a little more than 12% of the region's gas-producing capacity.

In addition, the BSEE estimates that slightly more than 343,500 barrels of oil per day, or just under 20% of the oil production in the Gulf of Mexico, remains offline. The amount of oil production shut-in for the storm peaked Oct. 8 at 1.62 million barrels per day.

Personnel remain evacuated from 20 production platforms, down from a peak of more than 300 on Oct. 7. The current evacuations represent less than 3% of the 737 manned platforms in the Gulf of Mexico.

According to the U.S. Energy Information Administration, the Gulf of Mexico federal offshore region accounts for about 5% of total U.S. dry gas production and about 17% of total U.S. crude oil production. The Gulf Coast also accounts for more than 45% of total U.S. petroleum refining capacity and 51% of total U.S. natural gas processing plant capacity.

Hurricane Nate made landfall over Mississippi late Oct. 7 as a Category 1 hurricane, knocking offline more than 111,000 electric customers and two refineries across the Gulf Coast region by Oct. 8.