Hurricanes Take A Toll On Gulf Of Mexico Oil Production

SourceForbes
SectorOil & Gas
CountryGulf

Topline Oil production in the Gulf of Mexico was dealt its largest blow in August since 2008, according to stats released by the U.S. Department of Energy on Wednesday, which showed that this record-breaking hurricane season has taken its toll. In about 8,000 feet of water, Shell's Perdido offshore drilling and production platform is the ... [+] world's deepest offshore rig.

Shown in this 2012 photo, it is located in the Gulf of Mexico 200 miles southwest of Houston. (Photo by Gary Tramontina) (Photo by Gary Tramontina/Corbis via Getty Images) Corbis via Getty Images Key Facts Production dropped by 27%, or 453,000 barrels per day, during August. That is the largest monthly production drop-off since September of 2008, another month when the Gulf coast took blows from hurricanes. The August drop was caused by Hurricane Marco and Hurricane Laura, according to the Energy Department, which has not yet released stats for September and October. Slowdowns in production continued into early November, due to continued hurricane threats from storms ...read more...