On the rise: First-time claims for unemployment insurance in Louisiana for the week ending May 7 increased from the previous week’s total, The Associated Press reports. The state labor department figures released today show the initial claims rose to 2,825 from the previous week’s total of 2,563. For the comparable week a year earlier, there were 2,838. The four-week moving average, which is a less volatile measure of claims, decreased to 2,716 from the previous week’s average of 2,759. Continued unemployment claims claimed for the week ending May 7 decreased to 22,633 compared to 22,854 the previous week. The four-week moving average for such claims decreased to 22,715 from the previous week’s average of 22,792.
Continuing to slide: The news isn’t any better this week for the Louisiana and U.S. rig count. Louisiana lost three active oil and gas rigs this week, according to Houston oilfield services company Baker Hughes Inc. Two of the rigs were located in offshore and one inland in south Louisiana. The state now has 20 active rigs offshore; four on land in South Louisiana; two inland on water; and 14 on land in north Louisiana. Around this time last year, Louisiana had 73 active oil and gas rigs. The Associated Press reports that nationally the number of rigs exploring for oil and natural gas in the U.S. dropped by nine this week to 406, another all-time low amid depressed energy prices. A year ago, 888 rigs were active.
Banked: The Louisiana Mineral and Energy Board collected $312,958 in bonus revenue for the state in the May lease sale. Year to date, the total collected in bonus payments for this fiscal year is $5.4 million. The board conducted its monthly meeting and lease sale Wednesday. At the sale, the board awarded four leases covering 1,489 acres with nominated tracts covering 38,210 acres. The leases are located in St. Mary, Iberia and DeSoto parishes. Last year, the board collected $14 million in bonus payments and more than $432.9 million in royalties.
