Louisiana Governor Jeff Landry has announced that the state is on the brink of resolving its major legal conflict with ConocoPhillips, one of the leading oil and natural gas companies. Describing the progress as being “words away” from a settlement, Landry referred to the long-running dispute, which involves claims that ConocoPhillips owes $815 million in unpaid taxes, interest, and penalties for the period between 2008 and 2011.
The lawsuit is part of a larger plan in Louisiana to hold oil firms accountable for environmental harm along the state’s coastline. Legal actions have been taken against major fossil fuel corporations, including Chevron, whose case is scheduled to go before the U.S. Supreme Court.
Speaking during a session of the Coastal Protection and Restoration Authority Governor's Advisory Council, Landry updated attendees on the ConocoPhillips negotiations. He stated that the settlement would not only resolve financial obligations but also foster a partnership that supports Louisiana’s economy and promotes environmental conservation.
“These aren’t empty promises; they're actionable measures,” Landry said. “This is about reinforcing our economy and ensuring a safer, more resilient Louisiana.”
The deal includes ConocoPhillips contributing funds to Louisiana’s coastal trust fund while granting the state access to 150,000 acres of wetlands. The areas will play a vital role in coastal restoration initiatives aimed at combating erosion and safeguarding the state’s coastline.