Here's what NOAA says about it:
A BROAD AREA OF LOW PRESSURE LOCATED A COUPLE HUNDRED MILES SOUTH OF THE LOUISIANA COAST IS PRODUCING A LARGE AREA OF CLOUDINESS...THUNDERSTORMS...AND GUSTY WINDS OVER THE EASTERN AND CENTRAL GULF OF MEXICO. UPPER-LEVEL WINDS ARE FORECAST TO BECOME MORE CONDUCIVE FOR DEVELOPMENT...AND THIS SYSTEM COULD BECOME A TROPICAL DEPRESSION DURING THE NEXT DAY OR SO. A NOAA HURRICANE HUNTER AIRCRAFT IS SCHEDULED TO INVESTIGATE THE AREA LATER THIS AFTERNOON. THIS SYSTEM HAS A HIGH CHANCE...80 PERCENT...OF BECOMING A TROPICAL CYCLONE DURING THE NEXT 48 HOURS AS IT MOVES SLOWLY NORTHWESTWARD. INTERESTS ALONG THE ENTIRE NORTHERN GULF OF MEXICO COAST SHOULD MONITOR THE PROGRESS OF THIS DISTURBANCE.You betcha we'll be watching it. I'm not concerned about a Cat1 hurricane, it'll just be a rainstorm when it gets to us, but it will be a rainstorm. Our last measurable rainfall was a week ago, at just under a half-inch. We're still in a drought, and a burn ban has been in effect for several weeks. Yeah, a little rain would be a blessing. A little ten-inch rain would be a blessing.