Down for the Count

According to the U.S. Minerals Management Service, Katrina-Rita has knocked out 98.59% of U.S. Gulf production (1,478,780 bpd out of pre-Katrina production of 1,500,000 bpd). Shut-in natural gas production is 79.79% of pre- Katrina production of 10 billion cubic feet per day. The one-two punch delivered by the paths of Katrina-Rita hit the totality of U.S. Gulf production as shown below (markers in the Gulf represent natural gas and oil installations). The Mars 220,000 bpd Shell production platform was wrecked by Katrina and Rita severed Chevron’s Typhoon tension-leg platform from its mooring, which is now floating upside down, knocking out 40,000 bpd of oil production. Also BP’s Thunder Horse 250,000 bpd platform, scheduled for startup in 2005, suffered storm damage that will push back its startup to 2006.