UL has big decision to make on Cajun Field renovation

[Crawfish]

Abundant Permian Basin oil that can be produced on the cheap really makes offshore oil (especially deep water wells) uncommercial. The environmental risk on land wells is also so much lower. This will not change, but there is a slim chance that recently proposed royalty relief legislation on shelf production will be enacted. I do not think this is going to create a drilling boom but it might stimulate some drilling and workovers.

[CajunVic]

12% severance tax is killing Louisiana. The lawsuits were a cost of doing business when oil was $75+ a barrel.

TAX & SUE

That really looks like a recipe by the state for bringing in and encouraging business to Louisiana.

[ManAboutTown]

Abundant Permian Basin oil that can be produced on the cheap really makes offshore oil (especially deep water wells) uncommercial. The environmental risk on land wells is also so much lower. This will not change, but there is a slim chance that recently proposed royalty relief legislation on shelf production will be enacted. I do not think this is going to create a drilling boom but it might stimulate some drilling and workovers.

Where we have the advantage is the ability to transport the product. There is nothing in the Permian Basin even close to what LA has to offer regarding pipeline infrastructure. It's very expensive to move product. Right now, there is a glut, but there is a shale Armageddon coming in the next 2-3 years. I don't want to get to deep in the weeds, but LA would cut the damn BS, lower severance tax, cut back on some bogus regulations and stop giving such gigantic tax breaks to large O&G companies operating in geographically ideal positions, LA could see a significant bump in industry returning. Technology has become so efficient during the last decade that drilling the Austin Chalk is now a cake walk. There is a reason why EOG, Marathon, Conocco Phillips, etc are scooping up lease land as of 2016.

It's not dead yet, but it's certainly on life support.

[BananaHammock]

I don’t think a $1 Tree or a sCENT Bush will get us there.

Obviously you didn't read the 1st paragraph of my post.

[ManAboutTown]

Obviously you didn't read the 1st paragraph of my post.

I don’t think she can read...

[Rainman66]

The development team that is interested in doing the work is very far removed from Lafayette.

And downtown spending goes a lot deeper than just misappropriated funds; you know that. Purely political and the people making those decisions are mostly in it for personal gain. Including redistricting. Our stadium & entertainment district need to be handled by capitalists; not bureaucratic eunuchs. Separate RCAF from the Foundation NOW!

Eunuchs ?? Somebody was reading some Old Testament or Oriental History. Either way, I approve.

[CrazyCajun]

Where we have the advantage is the ability to transport the product. There is nothing in the Permian Basin even close to what LA has to offer regarding pipeline infrastructure. It’s very expensive to move product. Right now, there is a glut, but there is a FRAC Armageddon coming in the next 2-3 years. I don’t want to get to deep in the weeds, but LA would cut the damn BS, lower severance tax, cut back on some bogus regulations and stop giving such gigantic tax breaks to large O&G companies operating in geographically ideal positions, LA could see a significant bump in industry returning. Technology has become so efficient during the last decade that drilling the Austin Chalk is now a cake walk. There is a reason why EOG, Marathon, Conocco Phillips, etc are scooping up lease land as of 2016.

It’s not dead yet, but it’s certainly on life support.

Another round of JBE and ___ will get real bad

[CajunVic]

Obviously you didn't read the 1st paragraph of my post.

My post stands even more pertinent and accurate. Learn to write what you mean if it was something different than what you posted. Might work out better for you.

[BananaHammock]

My post stands even more pertinent and accurate. Learn to write what you mean if it was something different than what you posted. Might work out better for you.

Yeah, ok.

[ManAboutTown]

Another round of JBE and ___ will get real bad

Dlque?

Oh nevermind, I Gotchya.