Hurricane Isaias Shuts In 71% of U.S. Gulf Oil Production

Hurricane Isaias has now knocked nearly 1.46 million barrels per day of U.S. Gulf oil production offline, extending a rapid shutdown that began with just 185,120 bpd three days ago. The Marine Minerals Administration said Friday that operators had shut in 1,458,814 bpd, or 71.51% of current Gulf oil production, along with 1.26 billion cubic feet per day of natural gas, or 58.84% of Gulf gas output. That is another 176,000 bpd of oil production lost since Thursday, when the agency reported 1.28 million bpd offline. Operators have now evacuated 129 production platforms, representing nearly 35% of the 371 manned platforms in the Gulf. Eight of 11 non-dynamically positioned drilling rigs have also been evacuated, while two of 17 dynamically positioned rigs have moved out of the storm's path. The scale of the shutdown has changed quickly.