BIZ: Much of Gulf oil, natural gas production still down due to Isaac
About 43 percent of the oil production and 21.3 percent of natural gas production in the Gulf of Mexico was still shut down on Sept. 6 after Hurricane Isaac blasted the area, a federal environmental regulator said.
That’s a 6.35 percentage point decline in shuttered oil production from Sept. 5, and a 4.43 percentage point decline in shuttered natural gas production over the same period, meaning production is slowly rebooting, Reuters reports.
Also, leftover high-velocity winds from Hurricane Isaac could become a new storm in the Gulf of Mexico’s northern region, the U.S. Bureau of Safety and Environmental Enforcement said.
The agency added that the shuttered oil production is about 593,000 barrels per day and the shuttered natural gas production equals 957.8 million cubic feet a day.
However, oil and gas production is expected to climb back up soon, after dropping off around the time Hurricane Isaac swept across the Gulf of Mexico last week, Reuters reports.
