New York.– Wall Street is set for another volatile week after the Labor Day holiday, as
investors track the price of oil, key economic data and continued fallout from
the credit crisis.
All eyes will be on Hurricane Gustav and its potential to
disrupt U.S. Gulf Coast oil production and refining operations on its expected
land-hit early in the week.
Any new threat to oil production could boost the
price of crude and in turn cause stock investors to sell shares on fears that
inflation pressure will rise.
Written by: Belial, 30 Aug 2008 1:49 PM
From: United States, Texas
p. 1 of 2
Tropical Storm Gustav will have more and bigger offshore energy targets to hit than the 2005 hurricanes did, should the storm stick to its projected path through the central Gulf of Mexico.
http://www.rigzone.com/news/article.asp?a_id=66057In 2005, only two platforms produced more than 100,000 barrels a day; this summer, six are producing at that level or are preparing to do so. Since 2005, oil and gas production has increasingly shifted to deeper water off the coast of Louisiana, with a handful of giant platforms generating volumes once produced by dozens of small, shallow-water facilities.
The industry has had two relatively quiet hurricane seasons since the devastation caused by Hurricanes Katrina and Rita in 2005. The two hurricanes damaged 75% of offshore platforms and resulted in the shutting in of 103 million barrels of oil and 610 billion cubic feet of gas production, according to the U.S. Energy Information Administration.
Written by: Belial, 30 Aug 2008 1:55 PM
From: United States, Texas
p. 2 of 2
Drillers and producers have attempted to shore up their infrastructure to prevent similarly widespread damage from the next major hurricane to sweep through the Gulf of Mexico. But with Gustav projected to pass directly through the Gulf's main production zone early next week, potentially as a Category 4 hurricane, there are no guarantees. While the Gulf is layered with thousands of platforms and miles of pipeline, a handful are responsible for the bulk of production, and will be most closely watched in a storm.
All large producers have said they are evacuating some staff, with a few, including Anadarko Petroleum Corp., announcing that they will completely shut down their offshore operations until after Gustav passes.
BP got Thunder Horse, its 250,000 barrels a day platform. At its peak, Thunder Horse will be responsible for about 15% of offshore oil production.
0000
So, if Gus gets Thunder Horse, that will be real bad.
From: Spain, Sanlucar de Barrameda..Coto Doñana
And you just love it you traitor
Written by: Belial, 30 Aug 2008 2:36 PM
From: United States, Texas
Gus is now a 4. But it's really getting Cuba.
Here's some more big rigs in the Gulf to look out for, for Gus, the 4, might get them.
Shell got the Ursa rig that produces around 100,000 bpd.
BP also has the 200,000 barrel-a-day Atlantis platform.
Chevron Corp. has installed its 125,000 barrel-a-day Tahiti platform at its offshore location and is preparing to start production later this year.
Shell's Perdido platform was recently installed in the Gulf, and will produce 100,000 barrels of oil a day around 2010.
The arrival of the giant platforms masks the fact that oil production has dropped 7% since 2005, to about 1.4 million barrels a day
oooo
Gus seems to headed at all of them. But if Gus gets any one of them, it is a big deal.
Investment bankers in Houston and Wall Street that specialize in energy are nervous over those big rigs.
From: United States, Houston
Dont forget these;
Shell- Bullwinkle, Popeye, Ram-Powell
Exxon- Hoover, Diana, Lena (MC280)
Total- Matterhorn
Conoco- Magnolia (best of them all)
All of the BP and most of the Chevron deepwater platforms can be remotely operated from shore. If Gustav hits where the Matterhorn is I would expect it to topple as it has a weird design for the spar portion of the facility. What really caused the damage in Katrina and Rita is that some production platforms were shut down, not by damage to them, but pipeline closures. Semi-Submersible drilling rigs are positioned and held in place by up to 8 each 36,000 lb. anchors, 4 of those bad boys drifted and ripped up a whole bunch of pipelines stopping the flow to shore. A lot of people think the Gulf of Mexico is oil, but is actually a huge gas field, dont get me wrong there is oil there but mostly gas.
Written by: Belial, 30 Aug 2008 3:10 PM
From: United States, Texas
http://fe6.news.sp1.yahoo.com/s/a...._ylt=Am21_ZfjRwnJ_0N.EyLoTUhvaA8FAs much as 80 percent of the Gulf of Mexico's oil and gas production could be shut down as a precaution if Gustav enters as a major storm, weather research firm Planalytics predicted. Oil companies have already evacuated hundreds of workers from offshore platforms.
Retail gas prices rose Friday for the first time in 43 days as analysts warned that a direct hit on Gulf energy infrastructure could send pump prices hurtling toward $5 a gallon. Crude oil prices ended slightly lower in a volatile session as some traders feared supply disruptions and others bet the U.S. government will release supplies from the Strategic Petroleum Reserve.
oooo
So, gas is going be real high next week.
Written by: Belial, 30 Aug 2008 3:34 PM
From: United States, Texas
"All of the BP and most of the Chevron deepwater platforms can be remotely operated from shore. If Gustav hits where the Matterhorn is I would expect it to topple as it has a weird design for the spar portion of the facility. "
oooo
That's extremely interesting.
So, you believe Gus, now a 4, may get Matterhorn.
I'm looking at some of its pictures. It doesn't look so tough to me.
owned by Total,
in about 2,800 feet of water, 100 milies southeast of New Orleans,
produces about 33,000 bpd [Hey, Tex, that ain't much by today's standards of the super-rigs] That's a baby rig.
55mmcf/d daily for gas.
A tension-leg platform
has a yellow funny-looking hull. That thing don't look like it can take Gus, even as a 4.
From: United States, Houston
Your opinion. I have been on it. On a regular day it sways and rocks most of the others dont. If it gets to the right yaw point, goodbye. If you read what you wrote it produces oil, 33,000 barrels of oil per day, but look at the amount of NATGAS 55 million cubic feet per day. Not shabby, there is a lot more of that size ones in the gulf that the super platforms. A direct hit by a cat 4 or 5 is extremely damaging to anything it hits.
Written by: Belial, 30 Aug 2008 8:03 PM
From: United States, Texas
"Conoco- Magnolia (best of them all)"
oooo
Tex, you work for Conoco?
Back in the '80s, a friend of mine, in Houston, was general counsel of Conoco.
We, US Rep. Mickey Leland, and Tex. St. Rep. Al Edwards worked together on the '88 Jesse Jackson campaign. The campaign won Harris County for Jesse in the primary, the largest and most conservative county in the south or southwest.
After the '88 campiagn, me and this Conoco guy worked on the South African divestment of the UH endowment, (he was a member of the UH System Board of Trustees) the endowment then was only worth about $45 million. But the divestment was followed by a 7% rise in the value of UH's holdings, not a plunge as many fools expected. And the South Africn divestment of UH was so extreme, it became a model for other US universties throughout the country.
Come to think of it, I doubt if Conoco would let you, Tex, work for it.
From: United States, Houston
No Senor,
I was a contractor to Conoco and multiple other drilling and production companies for almost 25 years. I have since left that company and gone on my own. I did have great involvment with the Magnolia as I assisted with the living quarters layout as well as the kitchen design. The gentleman who was project director went a step further and as a result all of the rooms slept 2 people with private bath, flat screen tvs and individual telephone lines in each. (unheard of when completed) He has since left Conoco and has gone to work for another oil company and is in charge of the construction of two production facilities.
There are companies out there that work all over the world as well that are not Conoco's or KBR's. The company that I worked for filled 3 passports cover to cover with my travels and 2 of those had extra pages in them. I dont travel as much any more, but the result is I get to target my work and cherry pick it.
From: Dominican Republic
Well, all I can say is that I hope Devon Energy's production platforms don't get hammered.
I have an interest in two 7,000 foot gas wells in Limestone County and frankly am expecting to have my check increase dramatically during the next few months because of increased natural gas prices.
Maybe it won't happen, but then, who knows? I just hope that Gustav doesn't cause too much damageto the existing platforms since that would affect the already shaky production equation in the Gulf Region to the detriment of the overall economy worldwide.
TexasBill
From: United States, Houston
Hi Bill,
Offshore Devon only has a few producing properties but onshore they have a lot. I would think you would be ok.
Tex
Written by: Jander, 31 Aug 2008 5:05 PM
From: Dominican Republic
Oil Feild Trash !!
Just kidding ! Brings back memories of the late 70 and 80's. I worked fo Western Geophysical out of Houston and my son was born in Columbus Texas. Working on the rigs paid more but I decided to be a 'Doodle-Bugger" . Worked my from Juggy to Cheif Observer and I still miss the travel and the outdoors, well except for Wyoming and North Dakota in January.
Never went international though, wanted to but the choices were the North Slope Saudi Arabia or the Jungles of South America. Instead I worked the San Joaquin Valley in California.
I remember running to old buddies who worked the rigs and when i shook their hands there was something missing , at least a finger a two.
Ahh the good old days!
From: Dominican Republic
I remember Columbus, Texas well. My Dad worked at the Magnolia Pumping Stationt ther in 41-42 for 5 months before being transferred to Andrews to buiid a new Station there which was to be part of the "Big Inch" Pipeline from West Texas to the Eastern States. I believe it was Texaco which had a BIG oilfield up near Semanole providing theoil.
I was in 4 different schools that year; Dayton, Columbus, Andrews and Pawnee.(in the Kennedy , Three Rivers, Beevile triangle , Population 50).
Texas Bill
From: Spain, Sanlucar de Barrameda..Coto Doñana
that was a stroll down memory lane eh TB
From: Dominican Republic
Yeah, I seem to be doing a lot of that lately.
TB
From: Spain, Sanlucar de Barrameda..Coto Doñana
For all you Texans...Robert Caros final volume of his magnificent bio of LBJ will be coming out soon. This article by Caro talks about the time LBJ made MLK cry ...it appeared in the Times the day before the Obama recent speech and on the anniversary of the" I have a dream " speech which Obama neglected to mention It was also the 100th anniversary of LBJs birth...I found the article touching..
http://www.nytimes.com/2008/08/28....&sq=robert%20caro&st=cse. From: Spain, Sanlucar de Barrameda..Coto Doñana
Robert A. Caro, who has won Pulitzer Prizes for his biographies of Robert Moses and Lyndon Johnson, is at work on the fourth and final volume of his Johnson biography.
From: United States, Houston
Jander,
Not far off!
I worked inside running the quarters and never had to use a spinning chain. By the mid eighties most drillers prohibited thier use. Loose a finger in a heart beat. Doodle-bugger huh, 70-80's at least when the rig got there there was a place to stay on location, you guys were the explorers. I would imagine that you guys still used caps and sticks as the thumper truck was just being introduced. I was working in Oklahoma waiting for the location to be ready and we had to spend a couple nights in a hotel and there was a group of DB's 2 rooms away, I was still green one of the guys asked for our room to be moved to the other end of the building and when I asked him why he opened up the room and pointed the cases of explosives next to the bed. The patch has changed a lot from then to now. I am still in the same line of work but doing it for me and not some company.
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Tropical Storm Gustav will have more and bigger offshore energy targets to hit than the 2005 hurricanes did, should the storm stick to its projected path through the central Gulf of Mexico.
http://www.rigzone.com/news/article.asp?a_id=66057
In 2005, only two platforms produced more than 100,000 barrels a day; this summer, six are producing at that level or are preparing to do so. Since 2005, oil and gas production has increasingly shifted to deeper water off the coast of Louisiana, with a handful of giant platforms generating volumes once produced by dozens of small, shallow-water facilities.
The industry has had two relatively quiet hurricane seasons since the devastation caused by Hurricanes Katrina and Rita in 2005. The two hurricanes damaged 75% of offshore platforms and resulted in the shutting in of 103 million barrels of oil and 610 billion cubic feet of gas production, according to the U.S. Energy Information Administration.
Drillers and producers have attempted to shore up their infrastructure to prevent similarly widespread damage from the next major hurricane to sweep through the Gulf of Mexico. But with Gustav projected to pass directly through the Gulf's main production zone early next week, potentially as a Category 4 hurricane, there are no guarantees. While the Gulf is layered with thousands of platforms and miles of pipeline, a handful are responsible for the bulk of production, and will be most closely watched in a storm.
All large producers have said they are evacuating some staff, with a few, including Anadarko Petroleum Corp., announcing that they will completely shut down their offshore operations until after Gustav passes.
BP got Thunder Horse, its 250,000 barrels a day platform. At its peak, Thunder Horse will be responsible for about 15% of offshore oil production.
0000
So, if Gus gets Thunder Horse, that will be real bad.
Here's some more big rigs in the Gulf to look out for, for Gus, the 4, might get them.
Shell got the Ursa rig that produces around 100,000 bpd.
BP also has the 200,000 barrel-a-day Atlantis platform.
Chevron Corp. has installed its 125,000 barrel-a-day Tahiti platform at its offshore location and is preparing to start production later this year.
Shell's Perdido platform was recently installed in the Gulf, and will produce 100,000 barrels of oil a day around 2010.
The arrival of the giant platforms masks the fact that oil production has dropped 7% since 2005, to about 1.4 million barrels a day
oooo
Gus seems to headed at all of them. But if Gus gets any one of them, it is a big deal.
Investment bankers in Houston and Wall Street that specialize in energy are nervous over those big rigs.
Shell- Bullwinkle, Popeye, Ram-Powell
Exxon- Hoover, Diana, Lena (MC280)
Total- Matterhorn
Conoco- Magnolia (best of them all)
All of the BP and most of the Chevron deepwater platforms can be remotely operated from shore. If Gustav hits where the Matterhorn is I would expect it to topple as it has a weird design for the spar portion of the facility. What really caused the damage in Katrina and Rita is that some production platforms were shut down, not by damage to them, but pipeline closures. Semi-Submersible drilling rigs are positioned and held in place by up to 8 each 36,000 lb. anchors, 4 of those bad boys drifted and ripped up a whole bunch of pipelines stopping the flow to shore. A lot of people think the Gulf of Mexico is oil, but is actually a huge gas field, dont get me wrong there is oil there but mostly gas.
As much as 80 percent of the Gulf of Mexico's oil and gas production could be shut down as a precaution if Gustav enters as a major storm, weather research firm Planalytics predicted. Oil companies have already evacuated hundreds of workers from offshore platforms.
Retail gas prices rose Friday for the first time in 43 days as analysts warned that a direct hit on Gulf energy infrastructure could send pump prices hurtling toward $5 a gallon. Crude oil prices ended slightly lower in a volatile session as some traders feared supply disruptions and others bet the U.S. government will release supplies from the Strategic Petroleum Reserve.
oooo
So, gas is going be real high next week.
oooo
That's extremely interesting.
So, you believe Gus, now a 4, may get Matterhorn.
I'm looking at some of its pictures. It doesn't look so tough to me.
owned by Total,
in about 2,800 feet of water, 100 milies southeast of New Orleans,
produces about 33,000 bpd [Hey, Tex, that ain't much by today's standards of the super-rigs] That's a baby rig.
55mmcf/d daily for gas.
A tension-leg platform
has a yellow funny-looking hull. That thing don't look like it can take Gus, even as a 4.
oooo
Tex, you work for Conoco?
Back in the '80s, a friend of mine, in Houston, was general counsel of Conoco.
We, US Rep. Mickey Leland, and Tex. St. Rep. Al Edwards worked together on the '88 Jesse Jackson campaign. The campaign won Harris County for Jesse in the primary, the largest and most conservative county in the south or southwest.
After the '88 campiagn, me and this Conoco guy worked on the South African divestment of the UH endowment, (he was a member of the UH System Board of Trustees) the endowment then was only worth about $45 million. But the divestment was followed by a 7% rise in the value of UH's holdings, not a plunge as many fools expected. And the South Africn divestment of UH was so extreme, it became a model for other US universties throughout the country.
Come to think of it, I doubt if Conoco would let you, Tex, work for it.
I was a contractor to Conoco and multiple other drilling and production companies for almost 25 years. I have since left that company and gone on my own. I did have great involvment with the Magnolia as I assisted with the living quarters layout as well as the kitchen design. The gentleman who was project director went a step further and as a result all of the rooms slept 2 people with private bath, flat screen tvs and individual telephone lines in each. (unheard of when completed) He has since left Conoco and has gone to work for another oil company and is in charge of the construction of two production facilities.
There are companies out there that work all over the world as well that are not Conoco's or KBR's. The company that I worked for filled 3 passports cover to cover with my travels and 2 of those had extra pages in them. I dont travel as much any more, but the result is I get to target my work and cherry pick it.
I have an interest in two 7,000 foot gas wells in Limestone County and frankly am expecting to have my check increase dramatically during the next few months because of increased natural gas prices.
Maybe it won't happen, but then, who knows? I just hope that Gustav doesn't cause too much damageto the existing platforms since that would affect the already shaky production equation in the Gulf Region to the detriment of the overall economy worldwide.
TexasBill
Offshore Devon only has a few producing properties but onshore they have a lot. I would think you would be ok.
Tex
Just kidding ! Brings back memories of the late 70 and 80's. I worked fo Western Geophysical out of Houston and my son was born in Columbus Texas. Working on the rigs paid more but I decided to be a 'Doodle-Bugger" . Worked my from Juggy to Cheif Observer and I still miss the travel and the outdoors, well except for Wyoming and North Dakota in January.
Never went international though, wanted to but the choices were the North Slope Saudi Arabia or the Jungles of South America. Instead I worked the San Joaquin Valley in California.
I remember running to old buddies who worked the rigs and when i shook their hands there was something missing , at least a finger a two.
Ahh the good old days!
I was in 4 different schools that year; Dayton, Columbus, Andrews and Pawnee.(in the Kennedy , Three Rivers, Beevile triangle , Population 50).
Texas Bill
TB
Not far off!
I worked inside running the quarters and never had to use a spinning chain. By the mid eighties most drillers prohibited thier use. Loose a finger in a heart beat. Doodle-bugger huh, 70-80's at least when the rig got there there was a place to stay on location, you guys were the explorers. I would imagine that you guys still used caps and sticks as the thumper truck was just being introduced. I was working in Oklahoma waiting for the location to be ready and we had to spend a couple nights in a hotel and there was a group of DB's 2 rooms away, I was still green one of the guys asked for our room to be moved to the other end of the building and when I asked him why he opened up the room and pointed the cases of explosives next to the bed. The patch has changed a lot from then to now. I am still in the same line of work but doing it for me and not some company.