Getting longer: The Baton Rouge Metro Airport broke ground today on the extension of Airpark Boulevard through the north end of the Aviation Business Park. The project is intended to open up more of the park for development, a BTR spokesman says. The business park’s current tenants include Coca-Cola Bottling, All-Star Chevrolet and America’s Auto Auction. Completion is anticipated early next year.
Ownership swap: Fieldwood Energy is acquiring Noble Energy’s Gulf of Mexico oil business for roughly $700 million, the Houston Chronicle reports. The deal between the two Houston companies comes as Noble is shifting its focuses away from the Gulf—which is recovering much more slowly from the recent oil bust—and turning instead to its booming onshore shale developments. Fieldwood is a privately owned company focused almost exclusively on the U.S. Gulf. Noble is expected to use the proceeds from the deal to launch a $750 million share repurchase program to boost the value of the stock for its shareholders. Read more.
Funding the coast: The Coastal Wetlands Planning, Protection, and Restoration Act Task Force has voted to fund six Louisiana coastal restoration projects to reach design or construction. Four of the projects will move into the design phase with total combined funding of $14,732. Two of the projects—Caminada Headland Back Barrier Marsh Restoration and Cameron-Creole Freshwater Introduction CU 2—have been approved for construction funding totaling $47,294. The projects are located in Jefferson, Lafourche, Plaquemines, St. Tammany and Cameron parishes.
