Final approval: The Visit Baton Rouge board of directors says it has given final approval to the tourism organization’s 2015 budget of $4,293,000. Next year’s budget includes an anticipated 4.25% increase in revenue. The board also signed off on a new contract for VBR CEO Paul Arrigo through next year that includes a pay raise of $4,526, bringing his annual salary to $156,700. The organization primarily is financed through a portion of occupancy taxes collected at area hotels. The board reports collecting $400,989 in occupancy taxes in October, down 6.5% from budgeted revenues for the month but a 2.4% increase over revenues collected in October 2013.
Sold!: The State Mineral and Energy Board reports collecting $634,492 in revenue for Louisiana from its monthly lease sale held on Wednesday in Baton Rouge. Since the start of the current fiscal year on July 1, the board has collected $5 million from its monthly lease sales. At this month’s lease sale, the board awarded 10 leases covering 1,169 acres out of 22 nominated tracts covering more than 12,943 acres. The leases were sold in Acadia, Calcasieu, Claiborne, Concordia, Jefferson, Lafayette, Plaquemines and Terrebonne parishes.
The one that got away: Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. fell by 27 this week to 1,893. The Houston firm says in its weekly report issued today that 1,546 rigs were exploring for oil and 346 for gas. One was listed as miscellaneous. A year ago there were 1,782 active rigs. Of the major oil- and gas-producing states, California, Kansas, Ohio and West Virginia each gained two rigs and New Mexico gained one. Texas lost 24 rigs, Arkansas lost three, Colorado lost two and Alaska, Louisiana, North Dakota, Pennsylvania and Wyoming each lost one.
