Gulf Oil Production About 80% Shut-In Due to TS/Hurricane Isaac

Investing

Published: August 27, 2012 3:18 pm

Last Updated: April 27, 2020 10:44 pm

The Bureau of Safety and Environmental Enforcement (BSEE) Hurricane Response Team reported earlier that some 78% of crude oil and 48.3% of the natural gas production has been shut-in by Tropical Storm Isaac (soon to be Hurricane Isaac). As of 3:00 PM EST this probably became 80% of oil and over 50% of that natural gas production. There are many other companies of course which are affected, but this has companies such as BP plc (NYSE: BP), Exxon Mobil Corp. (NYSE: XOM), Chevron Corp. (NYSE: CVX), Apache Corp. (NYSE: APA), and Royal Dutch Shell PLC (NYSE: RDS-A) all on watch.

Personnel have been evacuated from a total of 346 production platforms, equivalent to 58.05 percent of the 596 manned platforms in the Gulf of Mexico.
Personnel have been evacuated from 41 rigs, equivalent to 53.9 percent of the 76 rigs currently operating in the Gulf.
It is estimated that approximately 78.02 percent of the current daily oil production in the Gulf of Mexico has been shut-in and that approximately 48.13 percent of the current daily natural gas production in the Gulf of Mexico has been shut-in.

As a reminder, here is a map of the oil and gas offshore infrastructure tracked by NOAA:

The Average American Has No Idea How Much Money You Can Make Today ^(Sponsor)

The last few years made people forget how much banks and CD’s can pay. Meanwhile, interest rates have spiked and many can afford to pay you much more, but most are keeping yields low and hoping you won’t notice.

But there is good news. To win qualified customers, some accounts are paying almost 10x the national average! That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 3.80% with a Checking & Savings Account today Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.

Our top pick for high yield savings accounts includes other benefits as well. You can earn up to 4.00% with a Checking & Savings Account from Sofi. Sign up and get up to $300 with direct deposit. No account fees. FDIC Insured.

¹https://www.fdic.gov/national-rates-and-rate-caps