Unofficially I will offer this opinion. The onshore infrastructure is more seriously damaged than is apparent now. Production pipelines from offshore are frequently multiphase, i.e. both oil and gas and sometimes even water. It is processed in plants in the Southern Louisiana coastal areas. Many of these plants are damaged or possibly even destroyed. Without these plants functioning, dry gas can not be put into the interstate pipelines. This effectively shuts in the offshore production. Also much of South Louisiana is underwater as far east as LaFourche Parish. Our company even has a LAND well in Terrebonne Parish under 8' of water. The time required to ascertain the actual damage to onshore facilities and return them to service is probably going to be longer than most anticipate.
If the MODU's (mobile offshore drilling units) were playing bowling with each other, what was the pins? Answer: production platforms and pipeline facilities.
Disclaimer: This poster is anonymous and it is not known whether he has any credibility. Do not base any investment decisions on any of the information in this post if you can not verify the information elsewhere. Plese remember he stated that the information above is just an opinion, it is not based on factual information. "
PSA Price at posting:
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