LOGA monitors hundreds of bills during legislative sessions, making sure those bills that would potentially impede our industry never pass.

HB 1128 - ACT 115

It has been brought to our attention that there is some confusion regarding     HB 1128 (Act 115)  and its effects on landowners.  HB 1128 did not bring about a new law, it only changed the EXISTING LAW from 100% to 200%. Most surrounding states have the same law, but the penalty is between 300% and 600%.  Following is a sumamry of HB 1128:

HB 1128 (Act 115) does not apply to a private landowner who has leased his minerals.

HB 1128 (Act 115) applies to the leasehold ( oil company or investors) interest in a unit that either elect to participate and do not pay their share of the attributed costs of the drilling a well.

This does not impact a landowner that leases their mineral rights; it only impacts mineral owners that have agreed to make an investment in the well.

If you just leased your minerals, and made no agreement to invest in the well, THIS DOES NOT APPLY

If you have any questions about HB 1128, Please contact Gifford Briggs at 225-388-9525.

This year's list of bills to be posted soon.

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The 2008 Regular Louisiana Legislative Session Convenes at Noon, Monday, March 31, 2008; adjourns no later than 6:00 p.m. on Thursday, June 23, 2008.

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