Oil and gas producers in Louisiana could pay lower royalties to drill on state lands under a new plan released by the Louisiana Department of Conservation and Energy, reports The Center Square.
Under the 2026 State Lease Investment Program, royalty payments on new and existing mineral leases on state lands could be cut in half. The period for public comment is open through Jan. 28.
The program was developed to fulfill directives in an executive order signed by Gov. Jeff Landry in June that aims to increase production. In south Louisiana and the state’s offshore areas, total annual oil production fell from 58 million barrels in 2013 to 26 million barrels in 2023, or by 58% in 10 years, according to the executive order. Read more.
