Quiet Hurricane Prediction Signals Relief for Oil, Gas Producers
Following the quietest hurricane season in the past two decades last year, the National Oceanic and Atmospheric Administration is predicting a relatively inactive June-November hurricane season this year, meaning a potentially beneficial season for Gulf Coast crude oil and natural gas producers. NOAA projects a 70 percent probability of 8-13 named storms this hurricane season, of which 3-6 will strengthen to hurricanes, with 1-2 becoming major hurricanes.
Over the past 10 years (2004-13), the Atlantic hurricane season has averaged 16.3 named storms, 7.7 hurricanes, and 3.2 major hurricanes. The effects that named storms this year in the Atlantic will have on Gulf Coast crude oil and natural gas production will depend on their trajectory and strength. Last year, only one named storm—Tropical Storm Andrea—made landfall in the United States, and it did not cause any disruptions to crude oil or natural gas production, according to the EIA.
The US Department of Interior Bureau of Safety and Environmental Enforcement reported only one instance of shut-in oil and natural gas production last year, during Tropical Storm Karen in October. The last year that the United States experienced significant shut-ins was 2008, when two significant hurricanes affected oil and natural gas production: Hurricane Gustav, which made landfall in Cocodrie, La., on September 1, and Hurricane Ike, which made landfall in Galveston, Texas, on September 13.
The effect of hurricanes on oil and natural gas production has been reduced in part by an increasing portion of US production coming from fracking at inland basins such as the Bakken Shale play in North Dakota, the Williston Basin in Montana, and the Marcellus Shale play in the Appalachian Basin.
Why bring buildings online? What information can operations teams glean from real-time data that they can’t just get from the monthly data provided by utility companies? Click to learn more.
- Existing Building Technologies Combine for Increased Savings
- Let's Do The Math for DR
- The Future of Operational Risk Management: The Oil & Gas and Chemicals Approach
- 2014 Environmental Leader Product and Project Awards
- Improve Your Company's Environment and Energy Performance
- Energy Financing Report
- Unlocking the Value of Energy & Operational Data
- Combined Heat and Power
- Smart Companies Utilize Integrated Energy Solutions
- Increase the Value of Demand Response Through Automation
- Cut Costs and Improve Facility Operations with Energy Data
- Energy Procurement Strategies for Winter 2014 and 2015
- Energy Efficiency Requires Engineering Efficiency
- Integrated Building Optimization: A Crucial Convergence of Demand-side and Supply-Side Energy Management Strategies
- Driving Productivity and Profit with Industrial Energy Management