Isaac Update: Offshore operations returning to normal

Sept. 4, 2012
In the aftermath of Isaac, Gulf of Mexico oil and gas operations are returning to normal as platforms and rigs are reboarded and production restored.

Offshore staff

NEW ORLEANS –In the aftermath of Isaac, Gulf of Mexico oil and gas operations are returning to normal as platforms and rigs are reboarded and production restored.

Based on reports made to the Bureau of Safety and Environmental Enforcement (BSEE), evacuations still are in effect for 17 of 596 production platforms and 19 of 76 drilling rigs. Further, 58% of daily oil production and 38.5% of daily natural gas production remains shut-in. At the peak of restrained operations, 85% of the platforms and 65% of the rigs were idle while 93% of the oil production and 67% of the gas production was shut-in.

The most significant remaining known problem is downstream onshore where flooding has halted operations at a series of processing plants fed by pipelines from the GoM.

Among specific reports by operators, McMoRan Exploration Co. (NYSE:MMR) said it has found no damage to offshore facilities and is seeking to reestablish production.

Enterprise Products Partners L.P. (NYSE:EPD) reports that its personnel are being redeployed to both offshore and onshore facilities affected by Isaac and no consequential damage to offshore facilities has been found.

Shell expects to have personnel redeployed to its central and eastern Gulf regions very soon, and restarts of production or drilling operations depend upon inspection results. Shell says that most facilities should come onstream before the end of this week if the downstream infrastructure is able to take the deliveries of production.

9/4/2012