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Hurricane Delta Shut-In 1.5 Million Barrels (90%) of Gulf of Mexico Production

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   |    Thursday,October 08,2020

Hurricane Delta is once again reached Category 3 intensity and is heading for a Gulf Coast landfall Friday with life-threatening storm surge, damaging winds and rainfall flooding from Louisiana and east Texas to Mississippi, according to the weather channel.

The hurricane

  • has strengthened over the Gulf of Mexico and is turning into a Category 3.
  • will landfall along the northern U.S. Gulf Coast later Friday.
  • warnings are in effect from the extreme upper Texas coast to parts of Louisiana
Hurricane Delta has caused GOM operators to shut-in 90% or some 1.65 million barrels of crude oil in the regions, according to the U.S. Bureau of Safety and Environmental Enforcement (BSEE).  The operators have also shut in 62% of the natural gas as well.
As a result we saw crude prices rise and E&P equities rally some companies to the tune of +11% in one day.

WTI over the last 6 days (10-8-2020)

US Equities (10-8-2020)

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