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Energy companies on the U.S. Gulf Coast suffered minimal damage after Hurricane Francine made landfall on Wednesday as a Category 2 hurricane and weakened as it made its way inland on Thursday.
Shell plc inspected its manufacturing sites in Geismar and Norco, Louisiana, to ensure the. integrity of its equipment, systems and processes.
“At this early stage, there does not appear to be serious damage from wind, rain or storm surge at the facilities,” the company said on Thursday.
“As always, the safety of our people, the environment and our assets are Shell's top priority.”
Entergy Corp said it had 10,790 customer outages in the southern area of its Mississippi territory, and that outages are expected to fluctuate throughout Thursday as the storm moved through its service area.
“We have assembled a team of over 1,500 linemen, vegetation workers, damage assessors and support personnel to work with our Entergy teams in the restoration process,” the company said.
Read Also: Hurricane Disrupts UPS Deliveries In Southern US: Details
“We stand ready as Francine continues to impact our service area and are responding by assessing damage and restoring service to our customers where it is safe to do so.”
Pipeline operator Enterprise Products Partners LP on Thursday said its assets in south Louisiana did not sustain any noteworthy damage as a result of the storm, but it did say that some customers lost power, Reuters reported.
“The main issue at present is a loss of commercial power at locations in the track of the storm. Temporary generators are being deployed where possible and Enterprise is working with electric service providers to prioritize their restoration efforts,” the company said.
The hurricane weakened Thursday as it headed inland, allowing emergency crews in Lousiana to begin clearing roads while utility workers started restoring electricity, the Associated Press reported.
At the height of the storm, 450,000 people in Louisiana were without power, according to the state’s Public Service Commission. Many outages were caused by falling debris.
Hurricane Francine dumped up to six inches of rain in parts of Mississippi, Arkansas, Tennessee and Georgia and up to 10 inches in some areas of Alabama and Florida.
Price Action: Energy companies with facilities on the U.S. Gulf Coast trended upward on Thursday.
Generac Holdings Inc. , a manufacturer of generators for homes and businesses, declined 1.76% to $140.68 on Thursday.
Read Now:
Photo: Courtesy NOAA
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The demand for NVIDIA’s NVDA graphic processing units (GPUs) has surged significantly, positioning it as a leading player in the artificial intelligence (AI) revolution and one of the world's most valuable companies. NVIDIA's GPU-accelerated computing is transforming various industries, including oil and gas, by expediting complex calculations and enhancing data analysis. This technology improves seismic imaging, reservoir simulations and real-time data analysis, all of which are essential for locating oil and gas reserves more quickly and accurately.
Energy giants like Shell plc SHEL, SLB SLB and Petrobras PBR are well-positioned to benefit from this trend, as they already leverage NVIDIA GPUs to conduct complex simulations and boost productivity. This adoption is driving more efficient and sustainable operations in the sector.
NVIDIA’s GPUs in Seismic Imaging and Reservoir Simulation
NVIDIA's GPUs provide substantial benefits to oil and gas companies by significantly improving the speed and precision of their operations, especially upstream activities. A major advantage is seen in seismic imaging, where the parallel computing capabilities of GPUs greatly accelerate data processing. This enables companies to produce detailed subsurface images much faster than traditional CPU-based systems. The quicker imaging allows for faster identification of potential reservoirs, which enhances exploration decisions and helps reduce both the time and cost involved in locating oil and gas deposits.
NVIDIA’s GPUs also optimize reservoir simulations and real-time data analysis. Reservoir simulations, which model the movement of oil and gas within underground formations, are computationally intensive and typically slow. By leveraging GPUs, companies can run more accurate models in real time, enabling quicker, data-driven decisions and optimized extraction processes. Additionally, real-time data analysis powered by GPUs allows continuous monitoring of operations, predicting equipment failures and improving overall operational efficiency, reducing costs and mitigating risks.
3 Energy Stocks to Watch: SHEL, SLB, PBR
Shell: Accelerating Upstream Activities With NVIDIA AI
Shell's utilization of NVIDIA DGX A100 systems, based on NVIDIA A100 Tensor Core GPUs, for seismic processing enhances its capability to create more precise reservoir models by enabling iterative image reconstructions. This technology allows Shell to more effectively map subsurface structures, identifying critical features such as salt boundaries that impact hydrocarbon flow.
By harnessing these advanced tools, Shell not only increases the efficiency of locating and managing oil reserves but also accelerates data-driven decision-making that aligns with its sustainability goals. For instance, more accurate models help reduce unnecessary drilling, leading to cost savings and a minimized environmental footprint.
It currently carries Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Petrobras: Identifying New Reserves While Employing GPUs
The #3 Ranked Petrobras has integrated NVIDIA's Tesla GPUs, particularly the Tesla K10 model, into its operations to boost seismic data processing capabilities. This integration allows Petrobras to handle complex computational tasks more efficiently, including reverse time migration, full waveform inversion, and Kirchhoff time/depth migration.
These sophisticated algorithms enhance the precision of seismic imaging, enabling Petrobras to more accurately identify new oil and gas reserves. Paulo Souza, a developer in the Geophysical Technology Group at Petrobras RTM, noted that their seismic application runs 1.8 times faster on the Tesla K10 compared to the Tesla M2090 GPU, greatly accelerating the process of discovering and safely accessing new reserves.
NVIDIA A100's MIG Feature Lets SLB Run Multiple Simulations
SLB, with a Zacks Rank of 3, has experienced significant benefits from using NVIDIA’s A100 80GB Tensor Core GPUs with its INTERSECT high-resolution reservoir simulator. Compared to traditional CPU-based systems, these GPUs provide substantial performance improvements.
The Multi-Instance GPU feature of NVIDIA's A100 allows SLB to run multiple simulations concurrently, boosting throughput by up to 7.5x for larger models (2.3 million cells) and up to 11x for smaller models (575,000 cells). This results in considerable time savings, enabling SLB to perform up to 1,571 daily simulations instead of just 143 with CPUs. Using NVIDIA’s GPUs enhances computational performance and significantly improves operational efficiency and cost-effectiveness.
Zacks Investment Research
Sept 12 (Reuters) - Pipeline operator Enterprise Products Partners LP EPD.N on Thursday said its assets in south Louisiana did not sustain any noteworthy damage during the storm Francine, but flagged issues related to loss of power.
"The main issue at present is a loss of commercial power at locations in the track of the storm. Temporary generators are being deployed where possible and Enterprise is working with electric service providers to prioritize their restoration efforts," the company said.
(Reporting by Brijesh Patel and Anjana Anil in Bengaluru)
(( Anjana.Anil@thomsonreuters.com ;))
Keywords: STORM-FRANCINE/ENTERPRISE PRODUCTS (URGENT)
Sept 12 (Reuters) - Entergy Corp ETR.N:
ENTERGY: OUTAGES EXPECTED TO CONTINUE INCREASING TODAY AS HURRICANE FRANCINE MOVES THROUGH ENTERGY’S SERVICE TERRITORY
ENTERGY: HAVE STARTED RESTORING SERVICE TO OUR CUSTOMERS WHERE IT IS SAFE TO DO SO & ASSESSING DAMAGE TO OUR SYSTEM CAUSED BY HURRICANE FRANCINE
Further company coverage: ETR.N
Updates with latest figures
Sept 12 (Reuters) - Over 250,000 homes and businesses in Louisiana were without power on Thursday after Hurricane Francine barreled onto the state's Gulf Coast, according to data from PowerOutage.us.
Francine weakened to a post-tropical cyclone earlier in the day, but not before it had pounded southeast Louisiana, southern Mississippi and Alabama with heavy rains and gusty winds.
The utility company with the largest number of customers affected was Entergy ETR.N, which had 209,288 clients without power.
"We have started restoring service to our customers where it is safe to do so and assessing damage to our system caused by Francine," Entergy said in a statement on Thursday.
It was followed by Dixie Electric Membership Corporation, with 19,360 customers cut off in the state.
Here are the major outages by utility in Louisiana:
Power Companies | Outages |
Entergy | 209,288 |
Dixie Electric Membership Corporation | 19,360 |
Cleco Power | 14,851 |
Washington St. Tammany Electric Cooperative | 7,087 |
Total | 250,727 |
(Reporting by Anjana Anil and Anmol Choubey in BengaluruEditing by Alistair Bell and Sandra Maler)
(( Anjana.Anil@thomsonreuters.com ;))
Keywords: STORM-FRANCINE/POWER (FACTBOX)
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