SPECIAL REPORT: Louisiana tax relief helps restore inactive-well production

06/06/2005
Several states in the US, including Louisiana, have enacted tax-relief provisions for restoring production from inactive wells. The success of these programs in stemming production decline and increasing oil and gas activity has varied, as illustrated by Louisiana’s Severance Tax Relief Program (STRP) for inactive wells.Louisiana created its program with Act 2 of the 1994 regular session of the Louisiana legislature. The legislature amended STRP in 1998 and again in 2002. The 2002 renewal reduced to 2 years the severance exemption period, making Louisiana’s incentive program less competitive than most other oil and gas producing states.A renewal attempt will occur during the 2...
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