Apache Loses Eight Production Platforms Due to Hurricane Katrina

Apache Corporation said it has reported to the U.S. Minerals Management Service and the U.S. Coast Guard that it lost eight of its production platforms in Hurricane Katrina.

All personnel were safely evacuated from offshore facilities before the storm, and all Apache employees living in the storm's path have been accounted for, the company said.

The platforms lost to the storm were: Main Pass 312-JA; South Timbalier 161-A; South Pass (SP) 62-A; SP 62-B; West Delta (WD) 103-A; WD 103-B; WD 104-C; and WD 133-B.

Aggregate gross production from the eight lost platforms was 7,158 barrels of oil and 12.1 million cubic feet of gas per day before the storm.

A detailed inspection of damage to other facilities is under way. Apache personnel have begun the process of restoring production as pipeline and processing facilities become available.

Apache carries insurance coverage for its facilities and has up to $150 million of business interruption insurance to help defray the cost of an extended shut-in.