With oil prices decreasing dramatically over the past few months, here is a sample of South Louisiana economic news (both positive and negative) being reported by news sources:
Houma Named Acadiana Profile’s City of the Year – (MyNewOrleans.com – 2/2)
Airport Expands to Serve Oil and Gas (HoumaToday.com – 2/2)
Lafayette Oil Service Firm Acquired for $230 Million (TheAdvocate.com – 2/2)
Plan for Export Facilities in Doubt (The Advocate.com – 2/1)
Locals Watch Falling Oil Prices With Concern (HoumaToday.com – 1/31)
Louisiana Squeezed as Oil Prices Drop (NY Times – 1/31)
Norwegian Maritime Firm Invest $20 Million in St. Rose (Nola.com – 1/29)
Oil Price Slump Not Immediate Threat to LA Projects (Nola.com – 1/28)
Job Totals at Record High Even as Jobless Rate Rises (Nola.com – 1/27)
Terrebonne Parish Infrastructure Projects Progressing (HoumaTimes.com – 1/27)
Oil Prices Pose Both Danger and Opportunity (TheAdvertiser.com – 1/25)
Production Begins at Lucius Field in Deepwater Gulf (HoumaToday.com – 1/19)
Enbridge to Build $130 Million Pipeline in Gulf (Nola.com – 1/15)
Local real estate news has continued to be positive. Schlumberger, an oilfield services giant, recently purchased 60 Acres at US Hwy 90 and LA Hwy 311 for $4.5 Million. And our firm had January closings on commercial/industrial acreage at the corner of LA Hwy 182 and Coteau Rd. plus additional land for international propulsion firm Schottel. Besides these closings, 90 acres on LA Hwy 311 just south of US Hwy 90 went under contract in January.
The coming months will be an interesting time in our industry and for the overall economic health and future of South Louisiana. If you need real estate advice and guidance to help you navigate these turbulent times, contact Logan Babin Real Estate and Appraisals. We have been offering sound, competent real estate advice and counseling for over 50 years. Call us today and you will soon discover why we say – Logan Babin Real Estate & Appraisals – Local Knowledge…National Reputation!
