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Open for Business
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Oil & Gas
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Though our economy has diversified into a variety of sectors, the Lafayette oil and gas industry remains the center of economic vitality. Lafayette's economy was founded on oil and gas, and the industry remains a major part of business operations in the city. Changes in drilling have affected the oil and gas landscape in recent years, causing many of the big oil companies to relocate to Houston, but Lafayette continues to be a thriving arena for the service industry. There are over 600 oil-related businesses in Lafayette Parish covering all aspects of the oil industry: extraction; construction; geophysics and geology; support services; platform manufacturing; and equipment manufacturing, wholesaling, and leasing.
Every other year, the Louisiana Gulf Coast Oil Exposition (LAGCOE) comes to Lafayette and now attracts international businesses to interact with local companies.
Deepwater is the current trend in drilling, and companies are venturing deeper and deeper into the Gulf of Mexico. With all of these new developments, Lafayette's oil and gas arena should be booming for years to come. |
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