Louisiana Natural Resources Trust Authority public meetings in 2024

Louisiana Natural Resources Trust Authority

The State Mineral and Energy Board has set its meeting dates for August through December 2024. The August and December meetings include an informational update from the Natural Resources Trust Authority. The September meeting has been cancelled, and the November meeting had no NRTA committee meeting or update.

• September 11, 2024 meeting cancelled
• October 9, 2024 meeting includes establishment of Natural Resources Trust Authority Committee
• August 14 and December 11 meetings include Natural Resources Trust Authority informational update only
• November 13 meeting had no NRTA committee meeting, report presentation, or update

The State Mineral and Energy Board extended the Royalty Reduction Program for one year and awarded four mineral leases. The Board also authorized a settlement with Chevron and legal action against Torrent Gulf Coast III, LLC.

• Extended Royalty Reduction Program through December 31, 2025 (Unanimous)
• Awarded 4 mineral leases with total cash payments of $316,392.00
• Withdrew Tract No. 45873 from December 11 sale for re-advertisement (Unanimous)
• Authorized advertisement of 6 nominations for February 12, 2025 lease sale (Unanimous)
• Approved November 2024 gas royalty payments on a processed basis (Unanimous)
• Authorized acceptance of Chevron's offer to settle Royalty Audit Exception #X-06 (Unanimous)
• Accepted proposed Operating Agreement terms from RFP Resources, LLC in principle (Unanimous)
• Authorized legal action against Torrent Gulf Coast III, LLC for non-payment of royalty (Unanimous)

Louisiana Natural Resources Trust Authority

The State Mineral and Energy Board (SMEB) has established its meeting schedule for the remainder of 2024, with meetings on August 14, October 9, November 13, and December 11. The September 11 meeting has been cancelled. The Natural Resources Trust Authority (NRTA) will provide informational updates at the August and December meetings, and a committee is established for the October meeting; no NRTA committee meeting, report, or update occurred in November.

• September 11, 2024 SMEB meeting is cancelled
• October 9, 2024 meeting establishes the Natural Resources Trust Authority Committee
• November 13, 2024 meeting has no NRTA committee meeting, report presentation, or update
• August 14 and December 11, 2024 meetings include NRTA informational updates only

The Board awarded multiple mineral leases and approved the appointment of Benjamin C. Bienvenu to the Natural Resources Trust Authority Executive Committee. It also authorized the advertisement of 34 nominations for the January 2025 lease sale and approved a $39,961.83 recoupment for Talos Third Coast, LLC.

• Approved appointment of Benjamin C. Bienvenu to the Natural Resources Trust Authority Executive Committee (Unanimous)
• Authorized advertisement of 34 nominations for the January 8, 2025 Mineral Lease Sale
• Approved $39,961.83 recoupment request for Talos Third Coast, LLC (Unanimous)
• Recognized force majeure event for State Lease No. 21380 in Plaquemines Parish (Unanimous)
• Allowed Extex Operating Company to make additional shut-in payments for five state leases (Unanimous)
• Awarded 14 mineral leases with total cash payments of $1,921,521.40
• Rejected bid of Sandpoint Energy Partners LLC for Tract 45872 due to insufficient consideration
• Authorized Staff to reject a settlement offer from Louisiana Land and Exploration Company LLC and present a counter offer

Louisiana Natural Resources Trust Authority

The provided document is a 2024 meeting schedule. It notes that the Natural Resources Trust Authority Committee was established on October 9, 2024.

• Establishment of the Natural Resources Trust Authority Committee on October 9, 2024

The State Mineral and Energy Board created an executive committee to oversee the Natural Resources Trust Authority and awarded several mineral leases. The Board also approved various lease payment extensions and settlement negotiations.

• Established Natural Resources Trust Authority executive committee with members Tyler Gray, Sidney Degan, Matthew Moncla, and Charles Shepherd (Unanimous)
• Awarded 8 mineral lease tracts to bidders including Harrison Family Properties, LLC and Mark A. O’Neal & Associates, Inc.
• Approved seventh gas shut-in payment for Extex Operating Company on State Lease No. 18010 (Unanimous)
• Allowed late shut-in payments for Texas Petroleum Investment on Operating Agreement A0322 and State Leases 6646 and 6647 (Unanimous)
• Extended force majeure event until March 30, 2025, for Sibley Petroleum/Key Operating and Cox Oil/Operating leases
• Confirmed 'good cause' for Air Products Blue Energy LLC regarding development of Specific Areas A and C (Unanimous)
• Authorized settlement of mineral production audit with ExPert Oil & Gas LLC (Unanimous)
• Authorized settlement negotiations in Aethon v. Moss and Magnolia et al. (Unanimous)

Louisiana Natural Resources Trust Authority

The Louisiana Natural Resources Trust Authority (NRTA) has cancelled its September 11, 2024 meeting. No other items are on the agenda.

• September 11, 2024 meeting cancelled

The State Mineral and Energy Board Lease Sale and Regular Meeting scheduled for September 11, 2024, was canceled due to possible extreme weather conditions. The meeting will be rescheduled for October 9, 2024.

Louisiana Natural Resources Trust Authority

The Natural Resources Trust Authority does not have an established meeting schedule for 2024. The body provides informational updates during State Mineral and Energy Board meetings.

The Board awarded six mineral leases to Cypress Energy Partners, Magna Operating, Mark O’Neal & Associates, and Chesapeake Louisiana. The Board also approved a $51,004.25 recoupment for Brammer Engineering and authorized settlement counteroffers for two lawsuits.

• Awarded six mineral leases totaling $888,728.10 (Unanimous)
• Approved $51,004.25 recoupment request for Brammer Engineering (Unanimous)
• Authorized staff to negotiate Operating Agreement and remove land from commerce in Bayou Long Field, St. Martin Parish (Unanimous)
• Approved August 2024 gas royalty payments on a processed basis per State Texaco Global Settlement Agreement (Unanimous)
• Granted authority to submit counteroffers for BHP v. E.T. Robinson suits, Docket No. 36074 and 36018 (Unanimous)
• Authorized acceptance of Operating Agreement terms from Williams for Washington Gas Storage Unit in St. Landry Parish (Unanimous)
• Approved the July 10, 2024 minutes (Unanimous)
• Offered support for the reorganization of the Department of Energy and Natural Resources and the Natural Resources Trust Authority (Unanimous)