By September 14, 2018 0 Comments Read More →

It’s a gusher: US takes global oil lead, but La. lags

“If you’re in Texas, this announcement is huge and it’s great for the United States,” Briggs said. “There was a point in 2007 where people were talking about peak oil and we were importing oil and natural gas.

“We’re in a significant long-term downturn in Louisiana,” Briggs said. “We have 15 rigs offshore, where there were once hundreds, and eight land rigs in southern Louisiana. Even during the oil bust of the 1980s, we still had 30 land rigs in southern Louisiana.

“There are about 500 lawsuits out there now, and you just can’t sue that many people who have choices on where to invest and expect them to invest in Louisiana.”

 

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