Hurricane Preparedness Self-Evaluation for Energy Companies
Industry Updates

Hurricane Preparedness Self-Evaluation for Energy Companies

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By Drew Boyce
Industry Updates

Instructions: Answer these true/false questions to evaluate your company's hurricane preparedness strategies. If you answer "False" to many of these questions, it may indicate that your strategies need strengthening.

  1. We have a comprehensive financial hedging strategy specifically for the hurricane season (September-October).[ ] True [ ] False
  2. Our company has established relationships with diverse buyers across different regions as backup options for our products.[ ] True [ ] False
  3. We have a clear, documented protocol for decision-making during a hurricane-related crisis, including defined roles and authorities.[ ] True [ ] False
  4. Our hedging strategies take into account the unique challenges of the seasons, such as shifting demand and storage capacity.[ ] True [ ] False
  5. We regularly assess and update our understanding of vulnerabilities across our entire supply chain, including offshore production, LNG facilities, and refineries.[ ] True [ ] False
  6. Our company has backup plans for gas sales and is prepared to quickly reroute supply if necessary.[ ] True [ ] False
  7. We have a dedicated team or partner that provides real-time market insights and can execute trades quickly during rapidly changing hurricane conditions.[ ] True [ ] False
  8. Our long-term strategic planning incorporates the potential impacts of repeated hurricane disruptions on our growth strategy and investor relations.[ ] True [ ] False
  9. We have implemented advanced analytics and risk management platforms to help us efficiently manage complex hedging strategies.[ ] True [ ] False
  10. Our company has 24/7 support available for marketing and physical scheduling during hurricane season.[ ] True [ ] False
  11. We have contingency plans in place for potential month-long shutdowns of critical facilities (e.g., LNG facilities, refineries).[ ] True [ ] False
  12. Our hedging strategies are designed to protect against downside risk without unnecessarily limiting upside potential.[ ] True [ ] False
  13. We regularly conduct drills or simulations to test our hurricane response strategies and identify areas for improvement.[ ] True [ ] False
  14. Our company has a system in place to ensure key personnel can access necessary data and systems remotely during a hurricane event.[ ] True [ ] False
  15. We have strategies in place to manage potential shut-ins due to downstream issues (e.g., fractionation facility constraints for NGL producers).[ ] True [ ] False

Evaluation:

  • If you answered "True" to 12-15 questions: Your company appears to have robust hurricane preparedness strategies in place.
  • If you answered "True" to 8-11 questions: Your strategies are on the right track, but there's room for improvement.
  • If you answered "True" to 4-7 questions: Your hurricane preparedness strategies need significant strengthening.
  • If you answered "True" to 0-3 questions: Your company is at high risk during hurricane season. Immediate action is recommended to improve your preparedness strategies.

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Drew Boyce

Drew Boyce

Role and Responsibilities

Drew is currently the head of Mobius’ Physical Natural Gas Desk. He has eight years of experience in the energy industry, all with Mobius Risk Group. His energy experience has focused on natural gas, primarily on producer services, trading, asset optimization, transportation, scheduling, and procurement. Drew works closely with our clients to develop and implement strategies that align with their overall physical and financial objectives.  

Previous Experience

Before starting with Mobius, Drew was a 4-year Varsity Football Player for Penn State University.  

Education

BS, Business, Penn State University  

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