71°
Baton Rouge, Louisiana
7 Day Forecast
Follow our weather team on social media

Energy company CEO: Oil and gas industry to make comeback

3 months 4 weeks 1 day ago September 22, 2016 Sep 22, 2016 Thursday, September 22 2016 September 22, 2016 8:50 AM in News
Source: Associated Press
By: AP News

LAFAYETTE - The president and CEO of Stone Energy Corp. in Lafayette says he's confident the oil and gas industry will bounce back.

David Welch told the quarterly meeting of the Louisiana Oil & Gas Association on Wednesday that as the world population grows so will the demand for energy. Welch didn't say specifically when he expects the industry to make a comeback, however.

He told the group that demand for oil will close the gap created by a current oversupply of oil. He predicted that as the oil supply shrinks prices will fall, creating a gradual recovery in the industry.

More News

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
Radar
7 Days