On the way up: The number of rigs actively exploring for oil and gas in Louisiana climbed by seven this week to 76, according to the weekly rig count from Houston-based Baker Hughes. The rise came during a week in which the number of active rigs across the U.S. rose by 19 to 876. Still, when compared to the same week last year, the U.S. rig count is down by 1,007. There were 903 fewer rigs exploring for oil this week across America than there were during the same week last year. The per-barrel price for West Texas Intermediate crude fell to about $48 this week. Access the complete rig count for all states and Canada from Baker Hughes.
On the way down: Initial unemployment insurance claims for the week ending July 18 decreased to 2,694 from the previous week’s total of 3,451. Initial claims were above the comparable figure of 2,543 for the week ending July 19, 2014, according to figures released today by the Louisiana Workforce Commission. Construction had the largest decrease in initial claims, followed by health care and social assistance. Initial claims for mining, which includes oil and gas exploration and extraction workers, decreased from 83 to 76. Others working in the oil and gas support services are spread among various sectors. The four-week moving average of initial claims decreased to 2,890 from the previous week’s average of 2,899. LWC has more details.
Under pressure: The New Orleans Sewerage and Water Board of New Orleans has told most city residents to boil tap water before using it. The board says the advisory is a precaution because power surges at the main water plant cut water pressure for a brief period early Thursday, dropping water pressure below the recommended minimum. The advisory covers all of New Orleans between the Mississippi River and Lake Pontchartrain. Officials say water samples are being taken across the area. But until further notice, people on the east bank are advised to boil water for one full minute in a clean container before using it to drink, make ice, brush teeth, bathe, shower, or prepare or rinse food. The one-minute boil time starts after the water is at a rolling boil.
