MMS: Gulf Recovery Still Slow

According to the U.S. Minerals Management Service, the recovery of U.S. Gulf of Mexico oil and natural gas production after the storms of 2005 again showed little progress over the past two weeks. As of Feb. 22, shut-in oil production remained at 362,796 barrels per day, or 24.19 percent of normal production of 1.5 million bpd. That was down from 364,195, or 24.27 percent reported still shut in on Feb. 8.Natural gas output shut was 1.504 billion cubic feet per day, or 15.04 percent of normal daily output. That was only slightly improved from the Feb. 8 report showing 1.554 bcfd shut in, about 15.54 percent. Since Aug. 26 cumulative shut-in oil output is 129.59 million barrels, equivalent to 23.67 percent of the yearly Gulf of Mexico production of approximately 547.5 million barrels, the MMS report said. From the same August date, the cumulative shut-in natural gas production is 652.629 billion cubic feet, equivalent to 17.88 percent of the yearly Gulf of Mexico output of approximately 3.65 trillion cubic feet. Oil and natural gas output in the Gulf of Mexico has been inching back following hurricanes Katrina and Rita, which blasted the region in August and September and forced the shutdown of production platforms and pipelines. (Source: Reuters)