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Louisiana Oil Production Plummets, LNG Exports Offer Hope

4/1/2025

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Summary

Story summary

Louisiana's crude oil production plummeted by 20.8% in January, hitting 69,000 barrels per day, while natural gas output dropped 15.5% to 9,274 million cubic feet daily. This downturn stems from dwindling shale resources and slumping gas prices. Yet, the proposed LNG export facilities could ignite a resurgence in production, offering a glimmer of hope for the industry.

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Story summary

Louisiana's crude oil production plummeted by 20.8% in January, hitting 69,000 barrels per day, while natural gas output dropped 15.5% to 9,274 million cubic feet daily. This downturn stems from dwindling shale resources and slumping gas prices. Yet, the proposed LNG export facilities could ignite a resurgence in production, offering a glimmer of hope for the industry.