Wall Street Journal, “Early Signs Show Gulf’s Energy Facilities Held Up”
The weakened Hurricane Gustav hit energy-producing facilities that were more rugged and better prepared to resume operations than they were three years ago during Hurricane Katrina.
Turbulent weather prevented a damage assessment Monday, and industry officials cautioned that in previous hurricanes, initial optimism soured when operators began to test equipment.
Houston Chronicle: “With little damage to oil patch, prices dip“:
The oil and gas industry breathed a tentative sigh of relief Monday after preliminary reports suggested Hurricane Gustav did little damage to energy facilities both onshore and off, helping send oil prices sharply downward.
Early updates from Gulf of Mexico drillers and oil and natural gas producers were “very promising,” with no major damage reported, said Lars Herbst, regional director for Minerals Management Service, the Interior Department office that regulates the offshore oil and gas industry.