Wednesday, July 13, 2005

Oil Platform Peril drives up oil prices

Hurricane Deniis may have a broader impact on the U.S. economy than previous hurricanes:

B-P is working to save a (B) billion-dollar petroleum platform found listing in the deepwater Gulf of Mexico after Hurricane Dennis.

B-P says it still doesn't know what caused the list. Yesterday, information from data records on the Thunder Horse platform was sent to shore for analysis after power was restored and crews were able to go aboard.

Thunder Horse was evacuated Friday in anticipation of the hurricane. The listing platform was first noticed Monday by a passing ship.

It's the largest platform in the Gulf of Mexico and the center of the Thunder Horse field -- about 150 miles southeast of New Orleans in about six-thousand feet of water.

B-P had expected as much as 240-thousand barrels of oil per day to be produced from the platform later this year.