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As of Tuesday, October 4, 4:00 pm
Shut-in Status
| Date |
Shut-in Oil
(bbl/d)
|
% of Total
Federal GOM
|
Shut-in Gas
(mmcf/d)
|
% of Total
Federal GOM |
| 10/4/2005 |
1,349,617
|
86.4%
|
7,170
|
68.9%
|
| 10/3/2005 |
1,391,926
|
89.1%
|
7,495
|
72.1%
|
| 9/30/2005 |
1,467,577
|
94.0%
|
7,941
|
76.4%
|
| 9/29/2005 |
1,478,780
|
94.7%
|
7,980
|
76.7%
|
| 9/28/2005 |
1,511,715
|
96.8%
|
8,072
|
77.2%
|
| 9/27/2005 |
1,512,937
|
96.9%
|
7,857
|
75.5%
|
| 9/26/2005 |
1,527,630
|
97.8%
|
7,843
|
75.4%
|
| 9/24/2005 |
1,500,898
|
96.1%
|
7,488
|
72.0%
|
| 9/23/2005 |
1,486,877
|
95.2%
|
7,204
|
69.3%
|
source: Minerals Management Service
figure
data
Prices
figure
data
figure
data
| NYMEX Futures Prices |
10/3/2005 |
10/3/2005 |
change |
Week Ago
9/27/2005 |
Year Ago
10/4/2004 |
| WTI Crude
Oil ($/Bbl) |
63.90
|
65.47
|
-1.57
|
65.07
|
49.91
|
| Gasoline
(c/gal) |
201.57
|
206.22
|
-4.65
|
216.64
|
133.69
|
| Heating Oil
(c/gal) |
204.97
|
208.09
|
-3.12
|
206.86
|
138.56
|
| Natural Gas
($/MMBtu) |
14.22
|
14.02
|
+0.20
|
12.66
|
6.73
|
Petroleum
As Hurricane Rita approached, 16 refineries along the Gulf Coast
shut down as a precautionary measure and to allow employees
to evacuate. As of today, 8 remain completely shutdown and 8
have restarted. In sum, there are 4 refineries still shut down
in the New Orleans area following Hurricane Katrina, 7 shut
down in the Port Arthur and Lake Charles areas, and 1 shut down
or attempting to restart in the Houston/Texas City/Galveston
refining area, amounting to a total of over 3.0 million barrels
per day of refining capacity that is currently offline. This
accounts for over 1.3 million barrels per day of gasoline, over
700,000 barrels per day of distillate fuel, and nearly 400,000
barrels per day of jet fuel that is not being produced as long
as these refineries remain shutdown. Please consult the Office
of Electricity Delivery and Energy Reliability's Situation
Report for specific information on the refineries.
On October 3, EIA released the weekly Gasoline
and Diesel Fuel Update. The average weekly retail gasoline
price increased to 292.8 cents per gallon (up 12.5 cents from
the previous week). Diesel fuel prices increased 34.6 cents
to 314.4 cents per gallon.
Natural Gas
In an attempt to assess the effects of Hurricanes Katrina and
Rita on oil and gas production, the Louisiana
Office of Conservation is in the process of contacting 396
operators with producing wells in a thirty-eight (38) parish
region for information regarding the status of their production
operations. On October 4, the Office said it has received reports
indicating 216.3 million cubic feet per day (MMcf/d) of onshore
and offshore (in State waters only) natural gas production has
been restored, while 32 percent of the wells reportedly remain
shut-in. However, the Office has not received information on
approximately 56 percent of the oil and gas wells in the region.
The daily gas production capacity of the 38 parish region is
currently approximately 2,235 MMcf/d. Production capacity for
the region is estimated using the average production reported
to the Office for the period January 2005 to May 2005.
Trunkline LNG, located in Lake Charles, Louisiana, has announced
it is capable of discharging liquefied natural gas (LNG) vessels
at its terminal. Additionally, the Calcasieu Ship Channel and
Industrial Canal have been cleared for LNG vessel transit as
of October 3, 2005.
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