The recent, tragic explosion on an oil rig on Lake Pontchartrain in Louisiana has brought attention to the largely overlooked oil operations that were and continue to be conducted on the lake. The lake has not seen a large amount of drilling activity within the past twenty-plus years since a moratorium was placed on new oil operations on the lake.
However, the pre-existing operations continued to proceed as normal, one of which resulted in the explosion on October 15th. The platform was operated by Clovelly Oil Co., a New Orleans based independent exploration firm that holds stakes in the seven active wells still operating on the lake, according to WWLTV.
Despite this, many proponents for oil and gas drilling in the region purport that the location and convenience of the lake offer unique advantages for operators in the region. As Gifford Briggs, president of the Louisiana Oil and Gas Association, stated, “If you’re in the middle of Lake Pontchartrain, a lot of those challenges aren’t there, so you’re going to be able to look at producing the resources at a lower cost. Because of that, it’s more economical”…