As of this date, the Company estimates that approximately 1.2 Bcfe of third-quarter production will be deferred. During the height of the hurricane, Forest had approximately 50% of its personnel evacuated and approximately 145 MMcfe/d shut in (about 55% of its offshore Gulf of Mexico production) and currently has approximately 30 MMcfe/d shut in (approximately 10 MMcfe/d operated and 20 MMcfe/d non-operated). The shut in production is awaiting repairs to third-party pipelines and production facilities that the Company estimates will be completed in the next two to three months. As a result, Forest estimates that for the fourth quarter of 2004, an additional 2 Bcfe of production could be deferred as a result of these repairs or delayed rig activity.
Forest also announced that a production caisson at Main Pass 98 was heavily damaged in the storm. Main Pass 98 was producing approximately 1 MMcfe/d net and may not be repaired.
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