Industry assesses Hurricane Katrina’s impact

While the remnant of Hurricane Katrina continued to flood parts of the southern US at presstime last week, oil and natural gas companies began assessing the storm’s damage along the Gulf Coast.“There is still very little information regarding Katrina’s impact to the Gulf of Mexico,” said analysts on Aug. 30 in the Houston offices of Raymond James & Associates Inc. “Clearly, we think (based purely on speculation) that there is likely to be some significant damage to Gulf of Mexico infrastructure.”As of Aug. 31, the US Minerals Management Service reported 482 production platforms and 79 drilling rigs remained evacuated in the Gulf of Mexico, with 1.4 ...

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