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Ida’s Path of Destruction Dogging Natural Gas, Oil Operations in Louisiana, Offshore

Ida’s Path of Destruction Dogging Natural Gas, Oil Operations in Louisiana, Offshore

Hurricane Ida may be long gone, but bitter memories of its torrid march through the Gulf of Mexico (GOM) and into the Lower 48 were slowing recovery efforts by the natural gas and oil industry. Producers that work offshore were struggling to return crews to platforms and rigs on Friday. Extensive damage in Louisiana’s Houma…

September 3, 2021
U.S. Rig Count Plummets as GOM Falls to Zero Amid Ida Fallout, BKR Says

U.S. Rig Count Plummets as GOM Falls to Zero Amid Ida Fallout, BKR Says

A major hurricane and a corresponding dramatic pullback in offshore drilling numbers saw the overall U.S. rig count plummet 11 units to 497 for the week ended Friday (Sept. 3), according to the latest figures published by Baker Hughes Co. (BKR). Net changes in the United States included a 16-rig decrease in oil-directed drilling and…

September 3, 2021
Mexico Natural Gas Market Spotlight: Summer Ends with Prices Reaching New Heights

Mexico Natural Gas Market Spotlight: Summer Ends with Prices Reaching New Heights

Storms and accidents have rocked Mexico’s natural gas market in recent weeks, with buyers now faced with the highest prices to date through the end of the year. Given the uncertainty over Hurricane Ida’s toll on U.S. Gulf of Mexico (GOM) natural gas supply and overall demand destruction, NGI’s September Bidweek National Avg. jumped 24.0…

September 2, 2021
GOM’s Oil and Natural Gas Recovery from Ida Mistakenly Overstated by Federal Officials

GOM’s Oil and Natural Gas Recovery from Ida Mistakenly Overstated by Federal Officials

Natural gas and oil production taken offline in the Gulf of Mexico (GOM) by Ida is not coming back as quickly as first advertised, federal officials said Thursday. Following major storms in the GOM, the Bureau of Safety and Environmental Enforcement (BSEE) compiles daily reports from operators. On Thursday, it was clear that something had…

September 2, 2021
Crude Futures Climb in Wake of Ida’s Destruction; Production, Pipeline and Refining Uncertainty Persists

Crude Futures Climb in Wake of Ida’s Destruction; Production, Pipeline and Refining Uncertainty Persists

Oil and natural gas companies scrambled on Monday to determine the extent of damage to refineries, pipelines and offshore platforms in the immediate aftermath of the former Hurricane Ida, which made landfall in Louisiana packing winds near 150 mph. Ida battered Louisiana Sunday night as a Category 4 hurricane, delivering storm surges and flooding rains.…

August 30, 2021
Most GOM Natural Gas, Oil Still Offline as Entergy Foresees Power Outages ‘For Weeks’ After Ida

Most GOM Natural Gas, Oil Still Offline as Entergy Foresees Power Outages ‘For Weeks’ After Ida

Ida came in like the major hurricane she was, temporarily reversing the course of the Mississippi River and shutting down nearly all of the natural gas and oil produced in the Gulf Mexico (GOM). The aftermath also is looking to be long and difficult as thousands of people may be without power into the fall.…

August 30, 2021
Pemex CEO Says Production Partially Restored After Fatal Offshore Fire, as Two Workers Remain Missing

Pemex CEO Says Production Partially Restored After Fatal Offshore Fire, as Two Workers Remain Missing

Mexican state oil company Petróleos Mexicanos (Pemex) had restored 71,000 b/d of the roughly 421,000 b/d of oil production knocked offline by a fatal offshore platform fire as of Tuesday evening, according to CEO Octavio Romero Oropeza. In a video message posted late Tuesday night, Romero said Pemex expected to restore an additional 110,000 b/d…

August 25, 2021
Five People Dead, Two Missing in Pemex Gulf of Mexico Platform Fire

Five People Dead, Two Missing in Pemex Gulf of Mexico Platform Fire

Petróleos Mexicanos (Pemex) CEO Octavio Romero Oropeza said five people died and two people remained missing as of Monday afternoon following a fire on the E-Ku-A2 platform in the Gulf of Mexico. The incident occurred Sunday afternoon in the Ku, Maloob and Zaap (KMZ) megafield. Oropeza said an investigation was underway to determine its cause.…

August 23, 2021
BHP, Pemex Push Ahead with Mexico Deepwater Project

BHP, Pemex Push Ahead with Mexico Deepwater Project

With Gulf of Mexico (GOM) activity accelerating throughout both U.S. and Mexico waters, Australia’s BHP has given its stamp of approval to spend $258 million to advance the front-end engineering design phase for the Trion project in Mexico’s deepwater. Studies would be centered on completing engineering and commercial arrangements toward potentially sanctioning the project by…

August 11, 2021
BHP Sanctions Shenzi North in Deepwater GOM as Offshore Activity Accelerates

BHP Sanctions Shenzi North in Deepwater GOM as Offshore Activity Accelerates

With Gulf of Mexico (GOM) activity accelerating, Australia’s BHP has given the green light to Shenzi North, a deepwater project it shares with Repsol SA. BHP earmarked $544 million in capital expenditures (capex) for the project. The operator took over as majority owner last year and holds a 72% stake. Repsol SA, with a 28%…

August 6, 2021