Louisiana HB500 requires carbon dioxide storage unit operators to compensate nonconsenting mineral owners for stranded minerals or reimburse them for.
Louisiana HB500 amends existing law to ensure that nonconsenting mineral interest owners within a carbon dioxide storage unit are compensated for the value of minerals they cannot access due to the storage unit. Additionally, if drilling through the unit is permitted, the unit operator must reimburse the mineral owner for any additional material costs incurred to comply with Department of Conservation and Energy rules. This law aims to protect mineral owners' rights while allowing for necessary carbon dioxide storage operations.
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- Legal Framework
- Critical Issues
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