NOTICE:

 

Effective May 2, 2025, the Office of Conservation will no longer recognize the Louisiana Oilfield Restoration Association (LORA) as a financial institution acceptable to provide financial instruments to meet the financial security requirements of LAC 43.XIX.104.

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Effective immediately, all financial instruments previously issued by LORA will be administered by the Louisiana Natural Resources Trust Authority (NRTA). Until further notice, the Office of Conservation will continue to recognize these instruments as acceptable to meet the financial security obligations of LAC 43.XIX.104 under the terms previously agreed to in writing by LORA and the well operator.  However, renewal payments must be remitted directly to the NRTA.  Current participants will be contacted with payment instructions and further details about the changes in their program policies.

At this time, the Office of Conservation will not authorize or accept any new instruments or expansion of current financial security instruments previously issued by LORA. This position will be re-evaluated in 6 months.

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If Operators choose not to renew with the NRTA their financial security instrument previously issued by LORA, then they will need to secure appropriate financial security from an acceptable financial institution to meet the requirements of LAC 43:XIX.104.