Former U.S. Senator John Breaux (D-Louisiana) is stressing the need for national awareness regarding the Outer Continental Shelf (OCS) revenues that bypass Louisiana. "Louisiana deserves a fair share of the revenues that come from her shores," he told attendees at the America's Energy Coast Economic Forum in New Orleans. "We contribute a large amount of energy and economic security to the nation, and now more than ever, Louisiana deserves a national response to this national issue." Annell Bay, vice president of exploration, for Shell E&P Co., added, "Congress should enact comprehensive OCS revenue-sharing legislation to increase funding for states and help local communities that provide the support needed for energy development off their coasts." King Milling, president of the America's Wetland Foundation, said, "It is time for the U.S. to protect its economic and energy assets along the energy coast. The deterioration of the Gulf coast is a national problem, and by redirecting 50% of the revenues generated by offshore oil production, energy-producing states can secure their coasts and protect domestic energy production for the future." Louisiana's coast, known as "America's wetland," represents the nation's strategic petroleum reserves and thousands of miles of pipeline that provide 30% of the nation's oil and gas.
Recommended Reading
Equinor Brings Solar Plant Online in Brazil
2024-03-08 - Equinor says the Mendubim solar plant will produce 1.2 terawatt hours of power annually.
Civitas, Prioritizing Permian, Jettisons Non-core Colorado Assets
2024-02-27 - After plowing nearly $7 billion into Permian Basin M&A last year, Civitas Resources is selling off non-core acreage from its legacy position in Colorado as part of a $300 million divestiture goal.
Sitio Royalties Dives Deeper in D-J with $150MM Acquisition
2024-02-29 - Sitio Royalties is deepening its roots in the D-J Basin with a $150 million acquisition—citing regulatory certainty over future development activity in Colorado.
Marketed: EnCore Permian Holdings 17 Asset Packages
2024-03-05 - EnCore Permian Holdings LP has retained EnergyNet for the sale of 17 asset packages available on EnergyNet's platform.
Sitio Closes D-J Basin Deal, Looks to Defragment Minerals Space
2024-05-09 - Sitio Royalties closed its acquisition of 13,062 net royalty acres. CEO Chris Conoscenti has a strong pipeline of minerals acquisition opportunities.