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57 comments on I wish I didn't have to be the wet blanket

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MikeCapone on September 25, 2005 - 10:25am Permalink | Subthread | Parent | Comments top
I assume that there is no law or regulation that is forcing energy companies to report the damage they sustained because of a natural catastrophe..?

If not, it's somewhat predictable that they won't.

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mw on September 25, 2005 - 10:46am Permalink | Subthread | Parent | Comments top
The MMS requires GOM operators to report; so far, they are being quiet.

Saturday shut-in stats:

http://www.mms.gov/ooc/press/2005/press0924.htm

  These evacuations are equivalent to 79.73% of 819 manned platforms and 68.66% of 134 rigs currently operating in the Gulf of Mexico (GOM).

Today's shut-in oil production is 1,500,898 BOPD.  This shut-in oil production is equivalent to 100% of the daily oil production in the GOM, which is currently approximately 1.5 million BOPD.

Today's shut-in gas production is 7.488 BCFPD.  This shut-in gas production is equivalent to 74.88% of the daily gas production in the GOM, which is currently approximately 10 BCFPD.

The cumulative shut-in oil production for the period 8/26/05-9/24/05 is 31,781,559 bbls, which is equivalent to 5.805 % of the yearly production of oil in the GOM (approximately 547.5 million barrels).

The cumulative shut-in gas production 8/26/05-9/24/05 is 147.991 BCF, which is equivalent to 4.05% of the yearly production of gas in the GOM (approximately 3.65 TCF).

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bhyde on September 25, 2005 - 12:53pm Permalink | Subthread | Parent | Comments top
"I assume that there is no law or regulation that is forcing energy companies to report the damage"

Publicly traded companies are very careful with how they release material information about their operations.  The rules, strategy, and tactics of that are very mature.  A publicly traded company can't hide materially significant bad news for too terribly long without taking some very significant risks.  But timing the release is a tactically complex mess; particularly because being totally transparent can get you into trouble because it's likely to lead to a very inconsistent message stream.  The market really really doesn't reward an inconsistent message coming out of a company.

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57 comments on I wish I didn't have to be the wet blanket

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