Louisiana Well Takeover
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FAQ
Source: Louisiana Dept. of Natural Resources. The increased fees can be used by the Louisiana's Oilfield Site Restoration Program to plug "orphan" wells, which number around 4,300 across the state.
(i) The fee shall be one and one-half cents per barrel if the price of oil is at or below $60 per barrel.
The first oil well in Louisiana was drilled in 1901 in a rice field on the "Mamou Prairie" in the community of Evangeline near Jennings. The owner of the property, Jules Clement, had noticed bubbles rising from a spot in one of his rice fields when it flooded.
The appropriate forms to transfer the well(s) to the acquiring operator must be filed with and approved by the Commission. Two signature Form P-4s - When the current delinquent operator's signature can be obtained, a Form P-4 with signatures of the current operator and the acquiring operator may be filed.
Restoration Fee means an amount of money paid to the City by a Permittee to cover the cost of Restoration.
