According to various reports, gas exploration is huge business. It is making lots of people rich all over the country. Louisiana is the place to be right now. Louisianians are walking on money. Their parcels of land are worth huge money.
"A no-holds-barred, all-American gold rush for natural gas is under way in this forgotten corner of the South, and De Soto Parish, with its fat check from a large energy company this month, is only the latest and largest beneficiary. The county leaders and everyone around them, for mile after mile, over to Texas and up to Arkansas, in the down-at-the-heels city of Shreveport and in its struggling neighbors, suddenly find themselves sitting on what could prove to be the largest natural gas deposit in the continental United States.
Already, several dozen people who own parcels of land over the field are becoming instant millionaires as energy companies pay big money for the mineral rights to the gas, which like other energy sources is worth far more than it was last year. Jalopies are being traded in for Cadillacs, plans for swimming pools are being hatched in rusty trailers, and the old courthouse here is packed to the rafters day after day with oil company “landmen” (and women), whose job it is to frantically search the record books for the owners of the mineral rights to land that has become like gold."
BP PLC Tuesday posted a 28% rise in second-quarter net profit, as the U.K. company captured more gains from skyrocketing oil prices through stable oil production and increased refining capacity amid a turnaround effort it began last year.
BP, which is embroiled in a bitter dispute over the control of its Russian oil and gas joint venture TNK-BP Holding, posted net profit of $9.47 billion, or 49.8 cents a share, for the three months ended June 30, up from $7.38 billion, or 38.2 cents a share, a year earlier. Revenue increased 52% ...
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