Oil Companies in Texas Pursuing to Restore Operations After Hurricane Beryl

By Jace Dela Cruz

Jul 10, 2024 03:04 AM EDT

Oil and gas companies in Texas began resuming business operations on Tuesday after Hurricane Beryl, which brought heavy rains and fierce winds to much of the southeastern state.

While some facilities experienced damage and power restoration was slow, the overall effect on production was anticipated to be minimal, according to Reuters.

Hurricane Beryl Impacts Texas Coastline
HOUSTON, TEXAS - JULY 08: Vehicles are left abandoned in floodwater on a highway after Hurricane Beryl swept through the area on July 08, 2024 in Houston, Texas. Tropical Storm Beryl developed into a Category 1 hurricane as it hit the Texas coast late last night.
(Photo : Brandon Bell/Getty Images)

Economic Damages of Hurricane Beryl

The hurricane made landfall near Matagorda on Monday, prompting energy companies to halt operations and leading to the closure of Texas' main ports and navigation channels.

By Tuesday, several ports had reopened, and many producers were working to resume output, though the pace was hampered by ongoing power issues affecting homes, businesses, and industrial customers.

AccuWeather's early estimates placed the total damage and economic loss from the hurricane in the US between $28 billion and $32 billion.

READ NEXT: Texas Energy Industry Evaluates Hurricane Beryl's Damages to Shipping Ports, Oil Production Sector 

Over 1.8 Million Customers Have No Electricity Yet

According to PowerOutage.us, as of late Tuesday, over 1.8 million customers in Texas remained without electricity, including around 1.4 million served by CenterPoint Energy.

This number was significantly higher than the power outages experienced during a weather event in Houston in May, when it took over a week to completely resolve the issues in some neighborhoods.

Texas is the largest oil and gas-producing state, accounting for about 40% of the US oil and 20% of its gas output. It is also a major shipping and refining hub. Thus, any weather-related disturbance could affect crude and fuel production, exports, and imports.

READ MORE:  Texas Grid Prepares for Highest-Ever Power Demand Due to Summer Heat Wave 

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