Hurricanes Katrina and Rita double-punched South Louisiana's oil and gas operators. Swamped fields, storm-tossed rigs and busted pipelines starkly revealed the vulnerability of one of the Pelican State's most crucial industries. That said, recovery of the oil and gas industry across Louisiana's coastal parishes is close to complete. After more than 18 months, properties that haven't been restored are mainly those that were already marginally economic. Reality is that South Louisiana offers a range of attractive opportunities, especially to independents. This is indeed a mature region, but its geologic complexity ensures that oil and gas accumulations still remain undiscovered. And these accumulations are in conventional reservoirs, with outstanding porosities and permeabilities, in a region that is interlaced with processing, marketing and transportation infrastructure. The sizes of these opportunities may not be meaningful for the largest firms, but for small and midsize independents, it's a place they can thrive. For more on this, see the April issue of Oil and Gas Investor. For a subscription, call 713-260-6441.
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