In the classroom: Louisiana will receive up to $32 million in federal grant money over four years to improve preschool access for low-income children, a significant boost to state efforts to rework its network of early childhood programs. The U.S. Department of Education announced Wednesday afternoon that Louisiana was one of 18 states to get grants aimed at giving more quality educational opportunities to at-risk children. Louisiana is guaranteed $2.4 million for one year, and the award will grow to $32 million over the subsequent three years if the state meets the grant terms. The Associated Press has the full story.
Finders keepers: Lafayette-based independent energy company PetroQuest Energy says it has made a “significant discovery” at a Thunder Bayou prospect land location in Vermilion Parish. The company says in a news release that it expects to begin oil and natural gas production at the well in the second quarter of 2015, with about 70% of the production being natural gas. “It’s one of the most impactful projects we’ve ever had,” says Matt Quantz, manager of corporate communications. The company has about a 50% working interest and 37% net revenue interest in the well. The project has been ongoing since 2011. The Advertiser has the full story.
Dialing it back: OPEC has cut the forecast for how much crude oil it will need to provide in 2015 to the lowest annual level in 12 years amid surging U.S. shale supplies and reduced estimates for global consumption. Bloomberg reports the Organization of the Petroleum Exporting Countries lowered its projection for 2015 by about 300,000 barrels a day to 28.9 million a day. That’s about 1.15 million barrels a day less than the group’s 12 members pumped last month. The impact of this year’s 40% price collapse on supply and demand remains unclear, OPEC says. Read the full story.
