Special Report: Hurricane Katrina Damage Assessment

[bemildred]

It has been a week since Hurricane Katrina pounded its way across Florida into the Gulf of Mexico, on its way to causing one of the worst natural disasters in American history. The course it took through the Gulf led straight through the heart of the offshore oil patch into America's most active port and leading oil refining region. The damage to the oil and gas industry is still being assessed, but by all accounts it could have been much worse.

However, the damage to the Gulf Coast and the city of New Orleans in particular is truly catastrophic. One of America's most historic cities has been filled with flood waters that contain an assortment of petrochemicals, human waste, heavy metals, and other toxins. Hundreds, if not thousands, have died from the flood waters and the lack of basic necessities. At least half a million people have been forced out of their homes to take refuge with family and friends or in the shelters being prepared by the Red Cross and government agencies. Among those are many of our friends and co-workers from within the industry, including some portion of the nearly 20,000 Rigzone members who live in that area.

---

Offshore Damage Overview and Perspective

Katrina damaged a total of 12 rigs, including at least 5 that are likely to be scrapped. Discounting the 3 semisubs that only suffered loss of ballast and listing, Katrina still damaged 9 offshore rigs. Additionally, damage to at least 30 offshore platforms has been confirmed, with 18 platforms a total loss. And that number may increase, as a recent MMS report indicated a total of 58 damaged platforms and rigs in the Gulf. The only major area of uncertainty is how badly the underwater pipelines connecting the offshore platforms to shore have been damaged. It will be at least several more days before those damages can be fully assessed.

RigZone