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Days After Ida, Storm’s True Impact on Energy Sector Emerges

  • Damage has hurt ability to inspect assets on land and sea
  • U.S. Gulf still in dislocation with some rigs far from wells
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Hurricane Ida Impact on Oil to Be Short-Lived Says UBS' Gordon
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Five days after Hurricane Ida slammed into Louisiana, the true damage to the region’s energy infrastructure is only now starting to come to light.

The challenges for companies to get out and inspect has been as much on land as at sea. Roads have not only been inundated with water, but trees and even oilfield equipment have blocked trucks from getting through to begin the cleanup. Fixed platforms and mobile rigs have been slow to get inspectors back into the U.S. Gulf of Mexico because the helicopter companies that take them have been tackling issues at their own facilities.