If my blood test yesterday came back with a LH level of 71 and obgyn through ultrasound saw an egg and told me I was about to ovulate, when will I? Also will low progesterone (2.1) cause for no fertilization?

Ovulation testing. Your Progesterone level should be done 7 days after the expected day of ovulation. Testing before is not going to give you any information as the act of ovulation is what causes the Progesterone to rise. LH rises before ovulation. See your doctor to go over the specific details. The tests must be done on specific days for specific reasons to be able to interpret the results.
Ovulate. Your Ob/Gyn seems very comfortable about ovulation so get ready to have a new baby very soon. Things should all be OK!