|There was no better topic to end The Independent Weekly’s Lecture Series than the oil and gas industry and what might be in store for Acadiana’s economy in light of falling oil and natural gas prices. In conjunction with series sponsor IberiaBank and supporting sponsors Jones Walker law firm (which merges with Lafayette-based Longman Russo in January to expand its Lafayette presence) and Acadiana Business, the paper pulled together a stellar panel of energy leaders all from right here in Acadiana for a luncheon to discuss the topic. |
“Fueling Acadiana’s Economy” was held Dec. 9 at the Cajundome Convention Center. Moderated by LEDA’s Gregg Gothreaux, the program began with an introduction by IberiaBank Lafayette market President Pete Yuan, who reminded the audience how important this issue is to the overall health of Acadiana’s economy.
An exceptionally candid and frank discussion about the state of the industry and its impact on the local economy followed.
Knowing the big question on everyone’s mind is why oil prices have fallen so drastically in the past 14 months, Badger Oil’s Paul Hilliard told the audience that it would be at least a year — quite possibly longer — before we have a full understanding of today’s supply and demand. Hilliard also said it’s likely there will be some pain in the Lafayette area before prices rebound. “Bear in mind we’re talking about the world’s largest industry,” he said. “The concern is how long it lasts and how bad it will get.”
Bo Ramsay and IberiaBank’s Pete Yuan
The panelists, left to right: Paul Hilliard, Don Briggs of LOGA, Stone Energy CFO Ken Beer, Laj Carroll of BJ Services and Bill Fenstermaker of C.H. Fenstermaker & Associates
“Fueling Acadiana’s Economy” was attended by a diverse group of business leaders and oil industry executives, including Fire & Safety Specialists President and CEO Chad Meaux (front right)
Representing Lecture Series presenting sponsor IberiaBank: Jenny Martin, Kent Hanes, Mary Guidry, Richard Orgeron, Brandon Hyde, Alisha Higgins, Pete Yuan and Pat Trahan
MidSouth Bank’s Rusty Cloutier and Pixus’ Max Hoyt