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Oil giants settle first of Louisiana coastal suits; value of Cameron Parish deal unknown
Posted on 12/12/23 at 9:53 am
Posted on 12/12/23 at 9:53 am
LINK
quote:
Cameron Parish and the state of Louisiana have reached what could be a landmark settlement with the oil giants BP, Shell and Hilcorp in the first such deal in the 40-plus lawsuits filed by parishes seeking billions of dollars of compensation for coastal wetland damages caused by oil and gas operations.
The parties informed 38th Judicial District Court Judge Penelope Richard on Monday morning that a settlement had been reached, according to Richard's court clerk. Richard had been scheduled to oversee jury selection in the case on Monday.
quote:
No information was released about whether the settlement will require the companies to restore damaged property in the East and West Hackberry oil fields -- located on the west side of the Calcasieu River just south of the Calcasieu Parish-Cameron Parish border -- or whether the companies will pay financial damages, or the value of either.
quote:
"The parties have confidentially settled, but we do not yet have executed settlement documents that we can release," said Blake Canfield, executive counsel for the Louisiana Department of Natural Resources. "I’m afraid I can’t provide much more information at this time."
quote:
The Cameron settlement follows a series of attempts by dozens of oil companies to move it and all the other parish suits to federal courts, where they would have been tried under federal laws that the oil companies felt would be more favorable to them.
All of those challenges were rejected, however, ending in February with a Supreme Court decision to decline to hear additional appeals.
Posted on 12/12/23 at 10:00 am to WPBTiger
How is this confidential? Cameron Parish city council fidna EAT
Posted on 12/12/23 at 10:00 am to WPBTiger
How do they go about keeping public settlements private or is this a procedural issue that will be played out in due course?
Posted on 12/12/23 at 10:24 am to MrBobDobalina
quote:
Cameron Parish city council fidna EAT
Looks Like they've already been eating!!!
Posted on 12/12/23 at 11:08 am to jpainter6174
quote:I think they may have done just as much damage to the seafood industry
Looks Like they've already been eating!!!
Posted on 12/12/23 at 11:19 am to WPBTiger
I wonder what is “damaged” about the property….when you lease property for oil production, you assume a certain amount of ‘wear” on the property. Unless there is some environmental issues to clean up, this sounds like a money grab for Cameron parish.
Posted on 12/12/23 at 11:56 am to Spankum
Article doesn't really explain what the suit was about
Posted on 12/12/23 at 11:56 am to WPBTiger
What pisses me off is that all of this money will likely not go back to improving the community.
Posted on 12/12/23 at 12:03 pm to WPBTiger
What’s the plan here, fill in some of Hackberry’s fishing holes?
Posted on 12/12/23 at 12:09 pm to jcaz
oil companies paid property owners good money to use/rent the land where drilling was taking place. Now they want to sue because they didn't save money to fix there land?
nOT SURE HOW OIL COMPANIES DIDN'T WIN THIS SUIT
nOT SURE HOW OIL COMPANIES DIDN'T WIN THIS SUIT
Posted on 12/12/23 at 12:26 pm to Bison
Maybe i missed it but I wonder what their profit margin was for that timeframe...
Posted on 12/12/23 at 12:31 pm to WPBTiger
So more truck nuts or less truck nuts?????
Posted on 12/12/23 at 12:41 pm to Bison
quote:
Shell made 40 billion in profits in 2022. You really have a problem with a few million awarded to Cameron parish for coastal restoration?
First - Shell’s profits aren’t relative to the settlement. If you base the outcome off of the profitability of the defendant you are a POS who is just shaking a company down for money.
Second - very little of this settlement will go to “coastal restoration”. Most to lawyers and ‘studies’.
Posted on 12/12/23 at 12:46 pm to Marshhen
quote:
First - Shell’s profits aren’t relative to the settlement.
This!
quote:
Second - very little of this settlement will go to “coastal restoration”. Most to lawyers and ‘studies’.
And this too.
If I remember correctly, La was supposed to start getting a bigger percentage of offshore royalties from the Feds a few years back. I wonder where that money is going.
Posted on 12/12/23 at 12:46 pm to jpainter6174
quote:
Looks Like they've already been eating!!!
You think those baws know how to navigate a platter of fried seafood?
Posted on 12/12/23 at 12:52 pm to notiger1997
quote:
If I remember correctly, La was supposed to start getting a bigger percentage of offshore royalties from the Feds a few years back. I wonder where that money is going.
Most is going to pay back the Feds for the hurricane levees around NO. That’s over $100M per year
Posted on 12/12/23 at 12:57 pm to notiger1997
quote:
. I wonder where that money is going.
Probably the general fund to balance the budget.
Didn't Florida and Alabama get a bigger percentage of the money than Louisiana?
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