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State of optimism at this year’s NAPE industry conference in Houston

Bright lights and bright faces of the oil and gas sector were hustling about and making connections- a definite uptick in activity over last year. DNR’s Office of Mineral Resources Geologist Administrator Boyd Handley, Geologists Ann Wiley and Byron Miller, and Assistant Secretary Boulet on the floor of the NAPE Expo at George R. Brown Convention Center in Houston, Feb. 15-17.

BATON ROUGE- Word from Houston -  drilling is coming back. So it could be heard at last week’s North America Prospect Expo (NAPE) gathering in Houston where the Department of Natural Resources’ Office of Mineral Resources officials worked an exhibit booth, encouraging industry leaders to take a good look at Louisiana for mineral exploration and production in 2017.

Mineral Resources’ Assistant Secretary David Boulet said that oil and gas prices continue to rise from last year’s lows and the conference’s large turnout of some 11,000 attendees was a real good sign that companies are resurging. “We showed landmen, company executives, and hundreds of NAPE participants that there is productive acreage available across north and south Louisiana,” Boulet said.

Louisiana continues to be a world class destination to drill and produce. According to a state “Economic Outlook: 2016-2017 Report” by economists Loren Scott and James Richardson, projections indicate that oil prices will rebound to $60 a barrel this year, while natural gas prices should also climb because of an increase in industrial demand.

Read more –2/16/17 Houston Chronicle http://www.houstonchronicle.com/business/article/Gloom-lifts-from-industry-as-oil-deal-makers-come-10939204.php