Despite what was said at a coastal forum in New Orleans last month, oil and gas insiders contend a settlement is not in the stars for the massive lawsuit filed against nearly 100 energy companies by the Southeast Louisiana Flood Protection Authority-East.
Despite what was said at a coastal forum in New Orleans last month, oil and gas insiders contend a settlement is not in the stars for the massive lawsuit filed against nearly 100 energy companies by the Southeast Louisiana Flood Protection Authority-East.
"I do not believe that," said Don Briggs, president of the Louisiana Oil and Gas Association. "I haven't spoken to any companies or representatives of companies who think a global settlement is likely."
The lawsuit is seeking an unspecified amount of money for decades of damages inflicted upon wetlands by energy exploration activities.
At the Coastal Conservation Conversation event hosted by The Lens, Kyle Graham, deputy executive director for the state Coastal Protection and Restoration Authority, said, "They very well understand the liability that's out there on the coast. There will come a day when there is some sort of settlement that is built around it. It's very difficult to see a future in which that isn't there And they know there is a liability there and there's discussions that have been had. There are discussions that are going on. So it's very difficult to see a day when there isn't some sort of agreement that is waged there."
What's more likely in Briggs' eyes is the retooling of the flood authority board leading to the lawsuit being pulled.
"We have to wait for the right kind of people to be put on the board and it will take care of itself," he said.
A committee has begun work to fill two vacant seats on the board, which could possibly lead to a shift in thinking in regard to the lawsuit.