ENERGY: Hurricane Francine Shut in 42% of GoM Crude and 53% of Gas Production

Hurricane Francine shut in about 730mb/d or 42% of crude oil production and 992mcf or 53% of natural gas output in the U.S. Gulf of Mexico on Thursday, the U.S. offshore energy regulator said. 

• Hurricane Francine likely disrupted 1.5mbbl of Gulf of Mexico production, according to UBS estimates, cited by Reuters. This will likely reduce the region’s monthly production by 50k b/d.
• BP reported no significant impacts to offshore assets in Gulf of Mexico from Francine.
• Murphy Oil is in the process of assessing facilities but continues production from the majority of its assets.
• Chevron expected to return offshore staff yesterday and should start a production ramp up once the facilities are deemed safe.
• Woodside Energy on Thursday said power outages impacted shorebase and warehouse facilities but has sustained no damage. The Shenzi oil facility production remained shut-in due power loss to an onshore refinery.
• Kinder Morgan expects to be partially operational at its terminals by Friday.