Hurricane Harvey Update at 4:40 PM Sat

[dan_s]

You should all go to https://www.weatherbell.com/premium/ and watch Joe's Saturday Summary.

Joe does a good job of explaining why Harvey got so much stronger (from a tropical depression to a Cat 4) in just three days. He also explains why this weather event may be a problem in South Texas until Thursday if it loops back out over the Gulf of Mexico.

Right now Harvey is moving very slow (just 2 mph) NW of Victoria, Texas (about 120 miles south of where I live in Sugar Land). We've gotten close to ten inches of rain and we expect a lot more as bans of heavy rain keep coming.

If Harvey follows the track that Joe is forecasting, flooding in Houston will be BAD. However, his track is good news for Galveston. It does appear now that Galveston may dodge a bullet with this one. One forecast has Harvey coming right up highway 59 into Houston on Tuesday. I live three miles south of highway 59.

Harvey is dumping a lot of rain over the middle of the Eagle Ford. The big Eagle Ford production comes from an area due south of San Antonio.
Google "Eagle Ford Map" and you will see what I mean.

Most of Sanchez Energy's production is further west.
Sweet 16 companies that may be impacted by this heavy rain: CRZO, XEC and EOG.
Lonestar Resources (LONE), Earthstone Energy (ESTE) and Matador Resources (MTDR) may be impacted.

I do think Harvey will have an impact on the next two weekly oil production and storage reports coming from EIA. In addition to causing well shut-ins, the storm will keep a lot of oil tankers out of the Gulf of Mexico. The U.S. imports over 8,000,000 barrels per day of crude oil and much of it comes to Gulf of Mexico ports. A lot of U.S. oil is now exported from Corpus Christi.