§ 30:137 — Agreements to offset, compensate, and recover from future royalties

Louisiana § 30:137

• Jurisdiction: Louisiana
• Title 30: Mortgages and Privileges

Text

§137. Agreements to offset, compensate, and recover from future royalties
The State Mineral and Energy Board is hereby empowered to enter into agreements
with lessees or other parties under state oil, gas and mineral leases or other agreement
heretofore or hereafter issues to offset, compensate, and recover from royalty thereafter
accruing to the state of Louisiana, amounts equal to any royalty or other payments (all herein
called "royalty") which such lessees or other parties have paid to the state was, is, or may
become lawfully entitled because of overpayment or action by the Federal Power
Commission; provided, however, that with respect to any royalty based on amounts received
by the lessee or other parties for sales of natural gas that may be subject to refund by order
or directive of the Federal Power Commission, such agreements may require the immediate
payment of such portion of such royalty that is determined to be proper by the State Mineral
and Energy Board, such payment to be subject to the offsetting, compensation, and recovery
provisions of R.S. 30:137 through 141.

Legislative History

Acts 1963, No. 13, §1; Acts 2009, No. 196, §2, eff. July 1, 2009.