Petrobras USA says production has begun at its Chinook oil field in the ultra-deep waters of the Gulf of Mexico.
The company says production started last week in the field using a specialized ship that processes and stores oil and natural gas in place of a production platform. The field is being worked by BW Pioneer, a type of ship known in the oil industry as a floating, production, storage and offloading vessel, or FPSO.
Piccadilly Restaurants, a Baton Rouge-based cafeteria chain, has filed Chapter 11 bankruptcy.
Thomas Sandeman, the company's CEO, told The Advocate the filing, which was made Tuesday in U.S. Bankruptcy Court in Lafayette, will protect the value of Piccadilly, along with its employees and restaurants.
The bankruptcy filing said the chain wanted to protect itself from what it called "an aggressive legal maneuver" taken by lender Atalaya Capital Management.
Forum Energy Technologies says it plans to build a new 150,000-square-foot facility in St. Martin Parish to produce onshore and offshore drilling equipment for global customers.
Forum Energy CEO Cris Gaut says the $19 million project will replace an existing facility in nearby Broussard. The project will retain 203 existing jobs and create 125 new direct jobs with average annual salaries of more than $45,000, plus benefits. State economic development officials estimate the project will also create an additional 300 new indirect jobs.
The Small Business Administration, Louisiana Department of Economic Development and the Louisiana Small Business Development Centers will open a business recovery center in St. John the Baptist Parish for companies affected by Hurricane Isaac.
The center opens Thursday at 2013 W. Airline Highway in LaPlace.
Its hours will be 8:30 a.m.-5 p.m. on Thursdays and Fridays.
After 52 years in the shipyard industry, Bollinger Shipyards, Inc., Vice President Larry Vauclin is calling it quits.
Vauclin, vice president for the company's central division, is retiring effective Sept. 21.
Bollinger Executive Vice President Ben Bordelon announced Vauclin's retirement Monday. He says Vauclin has been a critical part of the company's growth and a mentor to many in the industry over the length of his career, which started in 1960 with Main Iron Works in Houma.
The New Orleans Business Alliance is receiving a $1 million Economic Development Administration grant to help fund the development and implementation of a strategic plan to boost business and job growth in the city.
The grant was announced Monday by acting U.S. Commerce Secretary Rebecca Blank.
The Advocate reports the grant will be used by the Alliance to identify ways to support existing businesses and attract new ones to the region and to develop a strategic five-year economic development plan for the city of New Orleans.