hurricane ida

An offshore oil and natural gas complex in the deepwater Gulf of Mexico (GOM) is likely to be offline for repairs for months because of damage inflicted by Hurricane Ida, Royal Dutch Shell plc said Monday. A “comprehensive damage assessment” was conducted by Shell Offshore Inc. following Ida, which stormed through the GOM at the…

Increased activity in the Permian Basin and Eagle Ford Shale helped push the U.S. rig count nine units higher to 512 during the week ended Friday (Sept. 17), according to the latest data from Baker Hughes Co. (BKR). A 10-rig increase in oil-directed drilling offset a one-rig decline in natural gas-directed rigs in the United…

The aftershocks of Hurricane Ida kept a lid on petroleum output and demand last week, long after the storm hammered Louisiana and production facilities in the Gulf of Mexico (GOM) on Aug. 29, the latest U.S. Energy Information Administration (EIA) inventory report showed. For the week ended Sept. 10, production inched ahead to 10.1 million…

Natural gas futures on Tuesday extended the ferocious rally launched a day earlier, hitting a high point for the year, as traders fixated on supply/demand imbalance concerns and cash prices continued to escalate. The October Nymex contract gained 2.9 cents day/day and settled at $5.260/MMBtu. A day earlier, the prompt month soared nearly 30 cents.…

Natural gas futures surged on Monday as a new tropical storm threatened to further shake the Gulf of Mexico’s (GOM) production foundation, a development that could hamper supply/demand balances at a time when gas in storage for winter is already light. The October Nymex contract cruised 29.3 cents higher day/day and settled at $5.231/MMBtu. November…

After Hurricane Ida crashed ashore in Louisiana late last month, it left in its wake massive oil production cuts as companies struggled to restart offshore platforms amid damage, flooding and power outages, the latest U.S. Energy Information Administration (EIA) inventory report showed. Production for the week ended Sept. 3 dropped to 10.0 million b/d from…

Natural gas forward prices exploded higher through the trading period ending Sept. 8 as hefty production outages lingered following Hurricane Ida, creating more uncertainty about whether U.S. supplies would be sufficient for the winter.  October fixed prices rallied by an average of 26.0 cents, while prices for the November and winter (November 2021-March 2022) strips…

Close to 77% of the total natural gas and oil produced in the Gulf of Mexico (GOM) remained offline Wednesday, more than 10 days after Hurricane Ida slammed into the heart of Louisiana’s energy home base in Port Fourchon. The Interior Department’s Bureau of Safety and Environmental Enforcement (BSEE) in a midday update said 77.25%…

Talos Energy Inc. is working with state and federal authorities to identify the owner of an oil pipeline that appears to be leaking in Louisiana state waters. The Houston-based independent exploration and production (E&P) company on Tuesday said it continued to lead the efforts to contain and control the oil release, which likely occurred following…