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Small oil independents bear hurricane toll in Gulf
In the Gulf of Mexico, Tim Washington and hundreds of small independent producers like Alpine Exploration Cos face severe losses after hurricanes Ike and Gustav. Most operate with fewer than 20 employees and produce 100 to 300 barrels daily, yet collectively they account for 68 percent of U.S. oil and 82 percent of natural gas. Analysts warn insured Ike losses may near 2 billion dollars, while Katrina Rita in 2005 had devastated hundreds of platforms.
MENTIONED IN THIS ARTICLE
Houston
Tim Washington
Gulf of Mexico
U.S
Exxon Mobil Corp
ConocoPhillips
Washington
Alpine Exploration Cos
Minerals Management Service
Gulf
United States
Independent Petroleum Association of America
Anadarko
Gulf Coast
BP PLC
Royal Dutch Shell PLC
Charles Adams
Rebel
Lafitte
Ike
Gustav