Hurricane season is having an effect on oil drilling in the Gulf of Mexico, and we haven't even seen a major hurricane in the Gulf yet. But with oil drilling safety a new focus, it's better to be safe than sorry.
Tropical Storm Lee forced the evacuation of 239 production platforms over the holiday weekend, accounting for 38.7% of the platforms in the Gulf of Mexico. Twenty-five of the drill rigs owned by Hercules Offshore
As of now, it appears that just over 60% of oil production and 41% of natural gas production in the Gulf of Mexico has been shut down. But workers are already starting to get back to work.
More than 100 platforms have brought workers back on board, along with 13 drill rigs. Production hasn't started to ramp up because platforms and rigs need to be inspected before work begins again, but that shouldn't take long because damage should be minimal.
The season isn't over
We aren't quite out of the woods yet. Tropical depression 14 is on its way through the Caribbean this weekend, and we aren't generally out of hurricane season until the end of November.
Gulf producers such as Chevron
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Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw. The Motley Fool owns shares of Transocean. Motley Fool newsletter services have recommended buying shares of Chevron. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.