Burlington Resources Confirms Minimal Damage Due to Hurricane Katrina
Burlington Resources reports that its facilities in South Louisiana had sustained little apparent damage due to Hurricane Katrina's passage through the area. Net production shut in as a result of the storm currently totals approximately 60 million cubic feet of natural gas equivalent per day (MMcfed), or about 2 percent of the company's total production. An additional 65 MMcfed of net production that was initially shut in was restored over the past few days. Burlington serves as operator of about 60 percent of the volumes affected. The production curtailments began August 24.
The resumption of production from facilities affected by the storm will depend primarily on restoration of local communications, pipeline and processing plant services, transportation and other vital functions, as well as on drainage of floodwaters. Consequently, the timing of additional resumptions is still being assessed.
"We were very fortunate that this terrible storm caused so little
damage to our facilities, and we intend to restore the shut-in
production as soon as local conditions allow," said Bobby S.
Shackouls, chairman, president and chief executive officer. "At the
same time, the Burlington Resources Foundation is pledging substantial
contributions to major relief agencies in the impacted areas and in
Houston, which has been called upon to host a large number of
evacuees. Our employees are also making significant individual pledges
and hosting displaced friends and family members in their homes."
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