February 10, 1994 |
Texaco, Louisiana Settle Dispute: The state agreed to accept $250 million in cash and another $150 million in economic development projects from Texaco Inc. to settle a longstanding dispute over oil and gas lease royalties. The acceptance, made informally by the state mineral board with Gov. Edwin W. Edwards sitting in, must be ratified at a meeting Feb. 22 and accepted by a federal judge. The state filed suit in 1988, claiming underpaid royalties amounted to $387 million.
September 1, 1992
Benton Oil & Gas Co., an Oxnard-based oil and gas exploration firm that has a major drilling operation off Louisiana's coast, said the field sustained only minor damage from Hurricane Andrew. Despite the eye of Hurricane Andrew passing just 15 miles east of Benton's field, which is in the West Cote Blanche Bay, Benton said all major production facilities appeared undamaged. Production was halted for a couple of days last week, but is expected to resume in full this week.
June 4, 1991
Benton Oil & Gas Co. in Ventura said it bought an additional 13.3% working interest in the West Cote Blanche Bay Field, an energy field off the southern Louisiana coast, for about $9.5 million in cash and securities. Benton, which bought the additional stake from four private companies and their affiliates that Benton did not identify, now controls about a 42% working interest in the field.
December 10, 1988 |
When Alligator Annie takes her boat into the swamps each day, she sees a bit more of her world washing away. She is no scientist, but Annie knows things aren't right out here in the vast Louisiana wetlands, where the land keeps sinking and the canals grow wider each year and the fresh water marsh is taking on a salty taste. She knows things are different from the days when she used to catch snakes here for a living, selling them by the pound to New Orleans dealers.
May 2, 1990 |
Texas, Oklahoma and Louisiana, all heavily dependent on oil to keep their coffers full, watched in disbelief as crude prices tumbled to a low of $10 a barrel in 1986, crippling the states' economies and ruining lives. Things are a bit better these days. But like a garden that has been unevenly watered, some cities and regions are making a relatively robust comeback while others are not. Houston is prospering while New Orleans is hurting.
January 10, 1987 |
A huge oil rig docked at a port in the Calcasieu Shipping Channel tilted Friday, flooding the lower compartments and killing two workers, authorities said. Divers found the bodies in different rooms of the submerged living quarters.