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OIL & GAS UPDATE

  /  OIL & GAS UPDATE

UNCERTAINTY IN SOUTH AMERICAN COUNTRY 2,200 MILES AWAY AIDING SPIKE IN CRUDE PRICE The see-saw continues to swing when it comes to the price of oil. This fall, the news was positive. Prices were up, work was growing at a steady rate and locals were optimistic about a prosperous future. But this winter, the bottom fell out and prices tanked — an epic fall from $70/barrel levels back down to the uncomfortably low $40/barrel prices that locals don’t like. But like any good see-saw, the swing downward only lasts so long and the start of 2019 has started another uphill climb — one that locals hope starts a growing trend throughout all of the next year. The price of oil has rebounded slightly throughout January, sitting near $55/barrel at press-time in the first week of February — a nearly 20 percent rise after the pitfall we’d seen for most of the winter. Forecasts say the current level of growth is expected to continue before leveling off at a level in the $65-$75/barrel area — a mark which local experts say is well above the break-even price for companies doing business in the Gulf of Mexico. “The break-even point right now is actually only $40/barrel,” Port Fourchon Executive

UNCERTAINTY IN SOUTH AMERICAN COUNTRY 2,200 MILES AWAY AIDING SPIKE IN CRUDE PRICE The see-saw continues to swing when it comes to the price of oil. This fall, the news was positive. Prices were up, work was growing at a steady rate and locals were optimistic about a prosperous future. But this winter,

OIL EXPERTS SAY THAT'S JUST TWITTER TALK The price of oil is down — way down — to start 2019. In the past 90 days, the price sunk from more than $75/barrel to the $46/barrel levels we’d seen to start the New Year — a more than 38 percent decrease that has

PRICE HAS DROPPED MORE THAN 20 PERCENT IN NOVEMBER This month marks our 12th issue of Bayou Business Monthly. In each issue, we have had a story updating the latest happenings in the topsy turvy oil and gas industry. The industry dominates our local economy and we know it, so we

Over these past several months, we’ve used our column space to talk about how questions about global supply were causing optimism amongst experts in the local oil and gas industry. But in the past 30 or so days, oil prices have struggled mightily, sinking to just below $63 per barrel at

SHAKEY INDUSTRY IN IRAN, OTHER GLOBAL COMPETITORS MIGHT BRING WORK TO THE GULF The price of oil dominates our local economy. By now, we all know this. We detail the happenings of the industry literally every, single month within the context of this piece of our magazine. But right now, that price is on the rise with

The question that gets asked at dinners, local group luncheons and some community meetings is how the oil industry is faring in the Bayou Region, amid hopes that what was seen as a profitable partnership a half-dozen years ago shall return. Interviews with industry leaders, economists, public officials and other experts

By Casey Gisclair The price of oil remains relatively stable and far greater than it was at the peak of the area’s recession. And officials with Port Fourchon want everyone to know that the port is growing and is very much open for business. Port Fourchon Executive Director Chett Chiasson said that business

A LOT OF FACTORS IN PLAY IN OIL’S ROLLER COASTER RIDE By CASEY GISCLAIR Last month, we explained why the price of oil on the global market had dipped and what political factors were driving the industry going into the future. This month, we’ve seen a bit of a 180-degree turn and we’re

AN EXPLANATION INTO WHY OIL PRICES ARE SO TOPSY TURVY For the first five months of 2018, the price of oil surged. On Jan 1, 2018, oil traded at about $60/barrel. By mid-May, the price was over $72/barrel – a 20 percent increase which had local business people smiling from ear-to-ear at

THAN THEY'VE BEEN IN 3 YEARS Houma native Josh Landry pulled his Chevy Tahoe up to the pump, got his wallet from the center console and took out a wad of cash.  “Three $20s. Here you go. Pump No. 5,” Landry said, gently handing the cash to his daughter, whose job was

The local economy may not be as strong as it was 10 years ago. But if you read the tea leaves and take an informative look into the future, it’s easy to see that companies are not spooked. They’re still willing to invest big-time money into the future of Port Fourchon. Last

& INDUSTRY LEADERS ARE HAPPY ABOUT IT President Donald Trump swept the southern United States in the 2016 election – winning Texas, Louisiana, Mississippi, Alabama, Georgia and Florida en route to his lopsided win over Hillary Clinton. Now in office for 15 months, folks in the oil and gas industry say that

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