[My Favorite Headache]

The media again played down and rushed the story that the oil rigs were not badly damaged...yadda...yadda...move along etc...this article tells another story.

[cripplecreek]

Can we have our gas panic now?

[Diddle E. Squat]

Say, how many thousands does your 'inside source' claim are still dead in Missisippi?

[VRWCTexan]

I was personally e-mailed photos today of one major floating production platform that is now flipped up-side-down - the major oil company that owns/operates this facility has yet to issue a press release.

Certainly if other producing facilities were hit this hard, then the problem is much more widespread than is being reported

[max_rpf]

“Based on what we have right now, it appears that drilling contractors and rig owners took a big hit from Rita,” said Tom Marsh of ODS-Petrodata. “The path Katrina took was through the mature areas of the US Gulf where there are mainly oil [production] platforms. Rita came to the west where there is a lot of [exploratory] rig activity.”

Many of those guys have some form of insurance, anyone operating these things in the gulf without it would be insane. Also note that this mostly affects exploratory activity, and while theoretically it should cut into the futures market, it likely won't as it doesn't seem to have hit current production. The important thing right now to the energy market is supply and refinery capacity which the storm seems to have mostly spared.

[Tulsa Ramjet]

Anwar, here we come. "And up from the came a bubblin' crude,"

[meyer]

The media again played down and rushed the story that the oil rigs were not badly damaged...yadda...yadda...move along etc...this article tells another story.

"We dodged a bullet" might become the most overused incorrect phrase of the year.

[Flavius]

thats great , i sold all my rig repair co's

da.n the msm...

[satchmodog9]

I guess this is why the president was telling us all to conserve.

[blam]

We had an oil platform wash in and got stuck under the Cockran-Africatown high-rise bridge here in Mobile Bay and one washed ashore on Daulphin Island (at the mouth of the bay).

Some amazing pictures but, I can't find any on-line.

[Trust but Verify]

I'm not going to flip out about this just on this report. There are thousands of these platforms in the gulf. If a couple hundred are out of commission, that is a small percentage. Plus, we are going to tap the reserve, so if we can refine it, we'll be fine.

Now if the LOOP or it's pipeline sustained serious damage, I'd freak out.

[hlmencken3]

I have no particular knowledge of the damage down there, but I know that 'experts' are ALWAYS wrong when estimating recovery time from damage. Give a good engineer a big budget and miracles happen.

Remember Gulf War I? YEARS to put out fires, experts assured us. Red Adair made it pretty short work. MONTHS to pump out New Orleans, experts told us. Try a few weeks when real pump guys got on the job.

Oil rigs aren't different. Speculators pumping disinformation so they can engage in profit-taking from the panicky rubes!

[PAR35]

Might big storm if it damaged rigs in the middle east.

more damage to oil rigs than any other storm in history and will force companies to delay drilling for oil in the US and as far away as the Middle East

[RobbyS]

Oh,oh!

[tiki]

So which media is wrong? How do you tell?

[HoustonCurmudgeon]

OK this doesn't mean things are that bad. Production platforms are the problem and they are OK. DRILLING rigs (NOT OIL RIGS whatever in the hell they are) are looking for new production. Most holes are dry and when they hit it can take months or years to come on line. This will delay some new production a year or more down the road but doesn't mean a damn thing to current production.

[WKB]

It's Bush's ancestor's fault ole George "Spindletop" Bush wasted all that oil.

"Black Gold" erupted from this well near Beaumont, Texas to a height greater than 150 feet (nearly 50 meters) on January 10th, 1901. It was not brought under control for 9 days, losing one million barrels of oil in the process.

BTW Have you and treble rebel found those 800 bodies in Mississippi yet?

[WOSG]

Parker Drilling has accounted for all rigs located along the coastal waters of Louisiana following Hurricane Rita. No material damage has been observed based on the assessment of personnel returning to the barge rigs in preparation to re-commence operations. Prior to the storm, all personnel had been safely evacuated, and rigs forecasted to be in the hurricane path moved to protected waters. Additionally, the Parker Drilling facility and the Quail Tools facility, both located in New Iberia, Louisiana, sustained no damage as a result of the storm.
http://www.rigzone.com/news/article.asp?a_id=25555

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Horizon Offshore reports that its marine construction vessels located in the U.S. Gulf of Mexico suffered no damage as a result of Hurricane Rita. The Company's shore base facility in Port Arthur, Texas, from which the Company conducted its Human Resources function and fabricates small components to support its pipeline and derrick projects, suffered wind damage to an office building and welding shop. The Human Resources function has been moved to the Company's Houston headquarters.

facility in Sabine Pass, Texas, which supports the Company's Gulf of Mexico barge operations, was flooded. The Company's damage assessment is ongoing, but it has not discovered any significant damage to its equipment there. Both sites are currently inoperable due to interruption of utilities service. The Company's headquarters in Houston, Texas was not affected and is fully operational.
http://www.rigzone.com/news/article.asp?a_id=25558

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Pride International Tuesday, September 27, 2005


Pride International says following an aerial inspection of its U.S. Gulf of Mexico fleet, its ten jackups and four platform rigs appear to have suffered no significant damage from Hurricane Rita. The Company expects to have personnel onboard each rig today to complete a thorough inspection and prepare to return the rigs to operation.

The hurricane passed through the Company's operating areas, and the rigs had been secured and all personnel evacuated in accordance with its standard safety procedures.

http://www.rigzone.com/news/article.asp?a_id=25574
0

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Petsec says Hurricane Rita passed over both the Vermilion 258 and West Cameron 352 platforms, which were both shut-in, in advance of the hurricane.

The Vermilion 258 platform suffered only minor damage. Recommencement of production is dependent on downstream pipelines operated by third parties which remain shut-in, but are anticipated to re-open late in the week.

Inspection of the West Cameron 343/352 platform is expected in the next two days.

Extensive coastal flooding will cause a delay of about one week to the installation of the Main Pass 19 platform, now anticipated for late October.

http://www.rigzone.com/news/article.asp?a_id=25584

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Stone Energy reports that due to Hurricane Rita, all offshore drilling and production activities in the Gulf of Mexico were suspended as of Thursday, September 22, 2005. Stone safely evacuated all employee and contract personnel prior to the arrival of the storm. Net daily production of approximately 195 million cubic feet of natural gas equivalent (MMcfe) (down from pre-Hurricane Katrina volumes of 260 MMcfe per day) was shut in as a result of Hurricane Rita.
Related Products

Production Operations, Volumes 1 and 2

Oil and Gas: The Production Story

Stone conducted an initial flyover of its properties after the hurricane, which indicated that the South Marsh Island 108 D platform and Vermilion Block 255 A and B platforms have been lost. Stone operates a total of 115 structures in the Gulf of Mexico. The net volumes from these platforms were approximately 18 MMcfe per day. Stone is evaluating alternatives for the lost platforms including utilizing existing platforms. Stone is currently assessing other operated platform damage, although it may be several days before information is received on properties and pipelines operated by third parties. Stone's properties and facilities are insured after a minimal deductible; however, Stone does not maintain coverage for business interruption.

http://www.rigzone.com/news/article.asp?a_id=25554

Sounds bad but is 3 out of 115 structures damaged heavily or lost.

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[Ursus arctos horribilis]

It is the hyperventilating MSM, why give credence to them, they have the oil patch confused with the government sloth.

I am retired oil field trash, if the damage exists, the patch can do a turn around very quick indeed if there is a cost/profit equation and the need is there.

[Tolerance Sucks Rocks]

Nothing to see here! Ignore those four-dollar gas prices!

[MNJohnnie]

Guess this author must be sitting a a whole lot of oil futures. Wouldn't do to have the price go down until they can get out of the market. Funny how these same "experts" were telling us Rita was going to cause "$4 maybe even $5 gallon gas prices"