Wildfires, fed by a historic drought, have so far spared oil and gas operations in Texas, Louisiana and Oklahoma, but they’ve had another impact on the energy sector: a drop in natural gas consumption.
Over the last three days, evacuations and fire-related damage in Texas have contributed to a pullback in demand of 1 billion cubic feet per day, according to a report today from Bentek Energy.
The 26 fires currently burning in Texas have consumed 114,000 acres in East and Central Texas, destroyed 1,700 homes and come dangerously close to oil and gas facilities.
But roughly 5 billion cubic feet per day of gas production from the Haynesville Shale formation, straddling the Texas-Lousiana border, remains stable, Bentek said.
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