MMS Unveils Final Ramp Up for GOM Production
Offshore oil and gas operators in the Gulf of Mexico continue to restore shut-in oil and natural gas production resulting from Hurricane Gustav and Hurricane Ike. This report will be the final one issued concerning shut-in production from these two storms.
From the operators' reports, it is estimated that approximately 9.2 % of the oil production in the Gulf is shut-in. As of June 2008, estimated oil production from the Gulf of Mexico is 1.3 million barrels of oil per day. It is also estimated that approximately 12.8 % of the natural gas production in the Gulf is shut-in. As of June 2008, estimated natural gas production from the Gulf of Mexico was 7.0 billion cubic feet of gas per day. Since that time, gas production from the Independence Hub facility has increased and current gas production from the Gulf is estimated at 7.4 billion cubic feet of gas per day.
It is expected that the majority of the remaining oil production shut-in will be restored by late March 2009. It is also expected that natural gas production shut-in will be fully restored by late May 2009. These expectations are based on repair timeframes for both production facilities and pipelines which transport the production to shore. Repair time can be affected by weather conditions and availability of materials.
This survey information is reflective of 39 companies' reports as of 11:30 a.m. CST. This is the final report for Hurricane Gustav and Hurricane Ike.