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Discounting the drill: Louisiana is launching a new royalty relief program to encourage oil and gas production by temporarily reducing what companies pay to extract resources on state lands. The incentives apply to new drilling, restarted wells and upgrades, and are aimed at attracting investment, boosting output and reinforcing the state’s position as a competitive energy producer. The program lays out a process for amending existing state leases to allow for reducing royalties by up to 8%, but never below the legal floor of 12.5%, for up to seven years for newly drilled wells or for orphaned wells brought back into production. Operators re-starting production on wells shut in for six months or longer, or operators doing substantive workovers can receive the benefit for up to six years. For more information on the program, visit the Louisiana Department of Conservation and Energy.
Pellet push: Louisiana lawmakers are divided over expanding the state’s wood pellet industry while restricting the carbon capture projects it relies on. A proposed bill promotes pellet manufacturing, but opposition to carbon storage has already derailed a $2 billion project. The clash highlights tensions between economic growth, environmental concerns and the state’s broader energy policy direction. Read more from Louisiana Illuminator.
Yada, yada, yada: Jerry Seinfeld is headed to Baton Rouge this summer, bringing his latest stand-up tour to the River Center Theatre on July 11. Tickets go on sale March 27 at 10 a.m. The iconic comedian and “Seinfeld” co-creator continues to tour nationally, drawing audiences with his signature observational humor about everyday life. Tickets will be available for purchase on Ticketmaster.com or at the River Road Box Office.
