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Bullboard - Stock Discussion Forum Tamarack Valley Energy Ltd T.TVE

Alternate Symbol(s):  TNEYF

Tamarack Valley Energy Ltd. is a Canada-based oil and gas exploration and production company. The Company's asset portfolio is comprised of oil plays in Alberta, including Charlie Lake, Clearwater and several enhanced oil recovery (EOR) opportunities. The Company has an inventory of low-risk, oil development drilling locations. Its Clearwater oil play is located in north-central Alberta. Its... see more

TSX:TVE - Post Discussion

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Post by Dibah420 on Sep 15, 2024 10:56am

Francine

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Bridges are closed just miles from the Gulf of Mexico as the effects of Hurricane Francine are felt along the Louisiana coast in Terrebonne Parish on Wednesday, Sept. 11, 2024.CHRIS GRANGER/THE ASSOCIATED PRESS

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Nearly 30 per cent of U.S. Gulf of Mexico crude oil production and 41 per cent of its natural gas production remained offline on Saturday following Hurricane Francine, the U.S. offshore energy regulator said.

Francine churned through prime oil and gas producing areas in the U.S. Gulf of Mexico and slammed into Louisiana with up to 161 kilometres per hour winds. The midweek storm toppled trees, flooded coastal areas and knocked out power across four states. There were some 37,000 customers in Louisiana without power on Saturday.

A survey of energy producers showed more than 522,000 barrels of oil production and 755 million cubic feet of natural gas remained offline on Saturday, the Bureau of Safety and Environmental Enforcement said.

Cumulative offshore production losses this week due to Francine total 1.82 million barrels of crude oil and 4.12 billion cubic feet of natural gas, according to BSEE estimates.

Oil eases as U.S. production resumes after Hurricane Francine, rig count rises

There were 52 oil and gas platforms unmanned by energy workers on Saturday, about 14 per cent of the total, down from 171 evacuated offshore platforms at peak earlier in the week, the offshore regulator said.

Two of Chevron’s platforms were operating at reduced rates due to an onshore gas plant disruption, the company said on Saturday. Full production at the two - Jack/St. Malo and Big Foot - will resume after the onshore disruption is resolved, it said.

Chevron did not identify the operator of the gas plant.

The second-largest U.S. oil producer said it was continuing to return workers and restore oil production at its Anchor and Tahiti platforms that were shut-in ahead of hurricane Francine. Initial assessments show neither suffered significant damages, Chevron said.

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