Upstream oil, gas industry sees little lasting impacts from Hurricane Harvey: analyst

5 Oct 2017   USA

Although Texas upstream oil and gas and oilfield services companies saw their operations negatively impacted in the immediate aftermath of Hurricane Harvey, which struck the Texas Gulf Coast August 25, the negative effects were largely short-lived, an analyst with the Federal Reserve Bank of Dallas said Wednesday. The Dallas Fed included several questions about the impacts that Harvey had on exploration and production and service companies in its quarterly Dallas Fed Energy Survey, which gauges the attitudes of executives of these businesses, Kunal Patel, a senior research analyst with the bank, said. “Respondents reported widespread but generally limited impact on their operations due to Hurricane Harvey and most believe these effects will be gone six months from now,” Patel said. The survey received 142 responses from energy company executives in Texas and parts of Louisiana and New Mexico, split about 50:50 between E&P and service companies, he said. Article […]

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