Tropical Storm Debby made her presence felt in June monthly production figures from the Energy Information Administration (EIA) as natural gas production from the federal offshore Gulf of Mexico (GOM) was off 6.8% from May (see Daily GPI, Aug. 2).
Tropical
Articles from Tropical
Industry Briefs
The body of an oil worker, one of 10 workers who were forced to abandon a liftboat in the southern Gulf of Mexico (GOM) during Tropical Storm (TS) Nate, has been recovered. Geokinetics Inc. CEO Richard Miles said that the victim, one of three employees who were aboard the liftboat Trinity II, was recovered Thursday. Miles said the second employee was among the seven men rescued on Sept. 12 but he died shortly afterward. He said the third employee was still recovering in a hospital Friday. The Trinity II was supporting an ocean bottom cable project in the Bay of Campeche for Geokinetics, which performs seismic testing for the oil and gas industry (see NGI, Sept. 12). The company said TS Nate disabled the liftboat and forced the crew to abandon ship and board a life raft.
Body of Oil Worker Missing from Tropical Storm Recovered
The body of an oil worker, one of 10 workers who were forced to abandon a liftboat in the southern Gulf of Mexico (GOM) during Tropical Storm (TS) Nate, has been recovered.
Market Rises at Nearly All Points; Traders Search for Cause
A vast majority of natural gas cash averages moved higher on Tuesday for Wednesday delivery despite moderating temperatures, a relatively quiet tropical weather picture and a lack of support from the screen’s prior-day action. Even western points, which widely recorded drops on Monday for Tuesday delivery, got in on the upticks on Tuesday.
One of Seven Gulf Oil Workers Rescued Sunday Dies in Hospital
A Bangladeshi oil worker, one of seven rescued Sunday in the southern Gulf of Mexico after being adrift for three days during Tropical Storm (TS) Nate, has died in a Mexican hospital.
Industry Briefs
Rescuers on Friday were attempting to reach a life raft containing a 10-member crew that was forced to abandon ship in the fury of Tropical Storm (TS) Nate in the southern Gulf of Mexico. Geokinetics Inc. said three of its workers and seven contractors had been aboard the Trinity II to support an ocean bottom cable project in the Bay of Campeche. The company said the storm disabled the ship Thursday and the crew was last seen boarding a life raft. Houston-based Geokinetics, which performs seismic testing for the oil and gas industry, said rescuers were attempting to reach the crew but were hampered by the inclement weather. “The safety and welfare of our employees is paramount and we are coordinating with maritime authorities to expedite the rescue effort as we continue to gather the facts,” said Geokinetics CEO Richard Miles. Mexico’s state-owned petroleum company, Petroleos Mexicanos (Pemex), said it had dispatched two ships to search for the workers off the coast of Tabasco state.
Bonnie Threat Suspends BP Relief Wells
With Tropical Storm Bonnie becoming a potential threat to the Gulf of Mexico, BP plc on Friday said it was suspending relief well activities targeting its blownout Macondo well.
Prices Fall at All Points as Storm Fears, Temperatures Decline
Prices declined by major amounts Tuesday as Tropical Storm Alex refused to become a hurricane and appeared determined to make landfall in northeastern Mexico, well clear of the Gulf of Mexico (GOM) production area. Also, heat levels, while still fairly warm in the southern U.S., had receded to some extent since last week.
Futures Continue to Slide as Alex Eyes Western Gulf
With Tropical Storm Alex expected to spare Gulf of Mexico production as it heads on a more westerly course, August natural gas futures — in their first regular session action as the front-month contract — continued to back off the recent highs on Tuesday as hurricane premium dissipated. The August contract reached a low of $4.525 before closing the regular session at $4.548, down 18.5 cents from Monday’s finish.
July Expires Lower as Alex Heads West
With Tropical Storm Alex appearing to be on a more westerly Gulf of Mexico (GOM) production-sparing path, July natural gas futures on Monday immediately extracted Friday’s premium as the expiring contract declined 14.4 cents to go off the board at $4.717. August futures declined by 17.5 cents to close at $4.733.