Anglo-Dutch supermajor Shell, which saw several of its facilities battered when Hurricane Ida stormed through the Gulf of Mexico and Louisiana, is estimating a $400 million hit to third quarter profits due to the effects of the Category 4 storm.

Ida, which made landfall on 29 August, did "significant structural damage" to a number of Shell's West Delta 143 offshore platforms.

This list included Shell’s WD-143-A platform, which the company will be offline for the remainder of 2021 as repairs are undertaken. Production from the Mars and Ursa platforms, which flow across the WD-143-A platform, is currently scheduled to resume in the first quarter of 2022.

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Production from Shell's Olympus semi-submersible production platform was re-started in early October as repairs to the company’s WD-143-C platform were completed.

The WD-143 facilities serve as the transfer station for all production from Shell’s assets in the Mars corridor in the Mississippi Canyon area of the US Gulf to onshore crude terminals.

“Hurricane Ida in the US Gulf of Mexico had an impact on our operations and is expected to have an aggregate adverse impact of around $400 million on adjusted earnings and (cash flow from operations) in the third quarter 2021,” Shell said Thursday.

The company estimated that, with the impacts of Ida included, production for the third quarter averaged between, 2.025 million barrels of oil equivalent per day and 2.1 million boepd. Shell said the effects from Ida reduced its production totals by approximately 90,000 boepd.

Shell’s update on the effects of Ida appeared to have little effect on the opinions of investors and analysts. Company shares were up slightly less than 1% to $45.90 in midday trading Thursday on the New York Stock Exchange, while Cowen returned a positive assessment of Shell’s third quarter update, raising its earnings per share estimates from $1.39 to $1.52.

“We maintain our Upstream earnings estimate at $2.2 (billion),” Cowen said in a Thursday note. The firm said the 90,000 boepd production loss was “in-line” with its prediction of a 75,000 boepd reduction.