Dunkirk in Houston
At this point, the focus is on products. Yet we could have production issues on gas and oil that could be a big deal when we start to run crude. Refining margins are surging and we should continue to see the speed from Brent to WTI widen. Yet in a few weeks, it could reverse.
The American Petroleum Institute (API) reported crude draw: (5.78 mm) Gasoline: +0.476 mm 19.1%Distillate: (0.486 mm) Cushing: +0.582 mm.
The BSEE Hurricane Response Team continues to monitor Gulf of Mexico oil and gas activities. Based on data from offshore operator reports submitted as of 11:30 CDT yesterday, personnel have been evacuated from a total of 102 production platforms, 13.84 percent of the 737 manned platforms in the Gulf of Mexico. Production platforms are the structures located offshore from which oil and natural gas are produced. Unlike drilling rigs, which typically move from location to location, production facilities remain in the same location throughout a project’s duration. Personnel have been evacuated from five rigs (non-dynamically positioned (DP) rig), equivalent to 50 percent of the 10 rigs of this type currently operating in the Gulf. Rigs can include several types of offshore drilling facilities including jack-up rigs, platform rigs, all submersibles and moored semisubmersibles.
From operator reports, it is estimated that approximately 18.26 percent of the current oil production of 1,750,000 barrels of oil per day in the Gulf of Mexico has been shut-in, which equates to 319,523 barrels of oil per day. It is also estimated that approximately 19.1 percent of the natural gas production of 3,220 million cubic feet per day, or 615.09 million cubic feet per day in the Gulf of Mexico has been shut-in. The production percentages are calculated using information submitted by offshore operators in daily reports. therefore are estimates, which BSEE compares to historical production reports to ensure the estimates follow a logical pattern.