[UPDATE: In afternoon reporting Monday, The Wall Street Journal noted that the Obama administration is trying to clear a path for 13 oil and gas companies to resume drilling in the Gulf of Mexico after their drilling was suspended following the Deepwater Horizon oil spill. The companies, including ATP Oil & Gas Corp. (which kept a $330,000-per-day crew in the Gulf while awaiting a permit after the deepwater drilling moratorium was lifted), Chevron USA Inc., Noble Energy Inc. and Shell Offshore Inc., will likely be allowed to forego detailed environmental reviews but will still have to comply with new safety regulations before they revive their deepwater drilling projects. Read more here.]
An ominous portent of south Louisiana’s economic future in today’s Wall Street Journal: More than two months after the Obama administration lifted its ban on deep-water drilling, experts now predict that such activity in the Gulf of Mexico will not resume until at least the second half of 2011, if not 2012. The Journal cites a slow-down in the permitting process and a broad range of new regulations on oil companies.
According to the article:
The slowdown also has long-term implications for U.S. oil production. The Energy Information Administration, the research arm of the Department of Energy, last month predicted that domestic offshore oil production will fall 13% this year from 2010 due to the moratorium and the slow return to drilling; a year ago, the agency predicted offshore production would rise 6% in 2011. The difference: a loss of about 220,000 barrels of oil a day.
Drilling in waters of less than 500 feet also has been snared by the government’s increased scrutiny. Regulators requested modifications to 101 shallow-water drilling plans in 2010, compared with 59 such requests in 2009 and just 31 in 2008. Rig operators say drilling permits once approved in a matter of weeks have taken up to five months to process as the government introduced new rules.
Read the full article here.
The Houston firm said Friday in its weekly report that 1,575 rigs were exploring for oil and 338 for gas. One was listed as miscellaneous. A year ago there were 1,776 active rigs.
It will be next month before Gov. Bobby Jindal will likely get a chance to change the membership of a South Louisiana flood board that is suing dozens of oil, gas and pipeline companies.
Newly established honor recognizes outstanding local attorneys; Neuner and McGoffin win President's Award; and Blanchard named Outstanding Young Lawyer.
Daily paper constructing new digs near production plant on Rieger Road at Siegen Lane, near I-10.
Investigation finds Arnaud’s Furniture, Carroll Building Specialties and Crazy Charlie’s Shoes running misleading going-out-of-business sales.
Critics say workers and retirees are being held responsible for the Jindal administration's mismanagement of their program.
Potenza Marketing makes fastest-growing companies list.
Local 101 class Friday
“Byzantine” is the word members of the nominating committee for the local flood protection authority often use to describe the complicated, multi-layered matrix of qualifications that must be met to fill a vacancy on that board.
In the Pelican State, Benjamin Franklin buys you about $109 worth of stuff.
Brittan Bush joins Liskow & Lewis, Blake David installed as the Third District Member of the Louisiana State Bar Association’s board of governors, and Simien & Miniex announces 2014 scholarship winners.
“In some cases, we’ve found that these parts are nothing more than used junk yard parts. In others, we’ve found them to be foreign knock-off parts of questionable quality.”
The old Daily Advertiser building on Jefferson Street is being rehabbed as the owner prepares to move it back into commerce.
Its fourth leader gone after two years on the job, the facility struggles to balance the tension between its two missions.
Hub City Cycles hits the ground running through small-business center opportunity.
The future of the coastal loss lawsuit could rest in hands of board’s nominating committee.
Leaders from the local tech community ponder the question: What's missing from Acadiana's tech ecosystem?
AT&T’s U-verse heads our way. Here’s what it means for you.
LITE’s virtual environments are changing the way local employees learn how to do their jobs.
Local tech gurus will go the distance to call Lafayette home.
A look at recent hires, promotions and other news from Acadiana's business community.
New Johnston Street eatery catapults to No. 1 spot in nearly 200-location chain.
By identifying companies that match the output of its post-secondary educational institutions, Lafayette is creating opportunities that keep highly trained graduates in the area.
Gideon’s Promise lauds G. Paul Marx’s work to improve the quality of indigent defense and helps train five new public defenders.
What will INNOV8 4.0 look like?