In Litel Explorations, LLC v. Aegis Development Co., LLC, 21-0741 (La. App. 3 Cir. 4/6/22), –So. 3d–, the Louisiana Third Circuit denied the LDNR’s claims for recovery of over 6.3.
Congress has dedicated $4.7 billion to orphan well plugging, remediation, and restoration activities nationwide through the Infrastructure Investment and Jobs Act ("IIJA").
Congress has dedicated $4.7 billion to orphan well plugging, remediation, and restoration activities nationwide through the Infrastructure Investment and Jobs Act (“IIJA”). A.
Lawmakers hope âorphanâ well tax exemption will resolve ongoing problem in oil industry
Bill uses taxpayer money to clean up mess left by oil industry, critic says
A photo of an orphaned oil well in St. Martin Parish taken by the Louisiana Department of Resources in 2010. (Louisiana Department of Natural Resources)
Lawmakers on Wednesday approved legislation that would establish a program to help fix âorphanâ oil wells by offering a tax exemption on oil produced from abandoned wells that are reworked to produce again. While it may resolve the ongoing problem of leaky unsealed wells across Louisiana, one critic pointed out that the legislation simply gives taxpayer money to the oil industry to clean up a mess made by the oil industry.