Petsec Energy advises that its offshore gas fields in the Gulf of Mexico and onshore Louisiana did not suffer material damage from last week’s Hurricane Ike, the second hurricane to pass through the region this month. Overnight, the Company’s largest offshore field, the Chandeleur 31/21 gas field was brought back into production. Main Pass 20 and three Mobile Bay wells have also resumed production together with two onshore fields. Total production yesterday was approximately 16 million cubic feet of gas equivalent.
PSA Price at posting:
34.1¢ Sentiment: Buy Disclosure: Held