A Louisiana oil and gas leader went over the good, the bad and the not so ugly of the industry Thursday afternoon at a State of the Industry luncheon in Houma.
Gifford Briggs, vice president of the Louisiana Oil and Gas Association, said part of the industry’s “not so ugly” is that Louisiana is becoming an energy export hub.
“With this (Trump) administration, we’re talking about exporting oil for the first time,” Griggs said. “We’re sending millions of barrels of oil overseas to be refined in other places.”
Briggs said major import ports in Louisiana, such as Port Fourchon, are being considered for exports.
In the past two years, Cheniere Energy has send over 250 ships carrying natural gas to 25 different countries, Briggs said.
The most exciting thing happening in Louisiana is fracking in the Austin Chalk, which spans from Texas through Louisiana. Briggs called it “Louisiana’s next great resource play.”
The major place for fracking in the chalk is North Bayou Jack, located in Avoyelles Parish.
But Briggs said he doesn't know if know if the oil rig count in the Gulf of Mexico will rise.
In 2001, there were 108 oil rigs in the Gulf, but by this year, that number had declined to 16.
“Is it possible we go lower? It is, but hopefully we’ll see some stabilization so we can adjust how we operate and how we’re be doing business,” Briggs said.
-- Staff Writer Holly Duchmann can be reached at 857-2205 or email@example.com. Follow her on Twitter @holly_evamarie.