Posted on 10/04/2005 11:22:01 AM PDT by nwctwx
Oct 4, 2005 — WASHINGTON (Reuters) - A total of 63 offshore platforms in the Gulf of Mexico were destroyed by Hurricane Rita and a further 30 fixed platforms were damaged, the U.S. Interior Department said on Tuesday.
In a briefing on the damage done by Rita, the department also said that 13 offshore rigs were adrift, one was destroyed, 10 were damaged and three rigs were unaccounted for.
(Excerpt) Read more at abcnews.go.com ...
ping.
Aren't there 4,000 or more out there?
Yes, you are correct.
This according to the Energy Information Administration:
Virtually all existing leasing and development activity occurs in the central and western Gulf of Mexico. There, more than 4,000 platforms are operating in waters up to 6,000 feet deep, and many rigs are drilling in waters approaching 10,000 feet.
Notice how ABC doesnt reveal important information that might dilute the doom and gloom of their "news."
You can get an idea how much impact the loss of 63 platforms has by looking at the price of gasoline.
Based on what I've seen, the impact appears to be pretty negligible. Prices are a lot lower now than they were right after Katrina, before these platforms were damaged.
That tells you all you need to know, unless you are an industry professional or investor/speculator.
They also have a little problem recognizing that there are different types of structures for different purposes. Drilling rigs are meant to be moved and are held in place with legs, anchors or other means while drilling. Production platforms vary from a small structure supported by pilling (pipe) driven into the sea bottom to larger platforms that float and are held in place by a system of anchors. Both are meant to be in a permanent location. There are many variants and depending on these variations the loss could be small or gigantic.
Stock pick time. Who will get the contract to fix em?
Nearly 80% of natural gas supplies and 20% of refineries are still shut down following the storms.
We're still assessing the damage to both the facilities and to our financial returns.
We were the reverse. Katrina was much nicer to us than Rita.
Kat only shut us down for three days due to nat gas restrictions.
Rita for over a week. We are still day to day on the gas supply.
Not very good news considering that I heat my house with natural gas and the temperatures have been in the high 20s last night and low 20's expected tonight. The only good news with the rain and snow showers was an excuse to avoid mowing the lawns this weekend.
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