NRTA | Department of Energy and Natural Resources

Natural Resources Trust Authority

The Natural Resources Trust Authority (NRTA) was created by ACT 727 of the 2024 Regular Session of the Louisiana Legislature. It serves as a true finance arm for the agency, as part of the structure of the State Mineral and Energy Board, with an overarching mission of developing a strategic plan to identify financial challenges facing the energy industry and natural resources-related projects.

A key function of the NRTA is to provide guidance and oversight for helping create financial instruments that provide appropriate funding for plugging and abandonment obligations for operators whose wells are orphaned.

For those wells that have or will become orphaned, the Louisiana Legislature passed Act 16 of the 2024 Third Extraordinary Session abolished the Oilfield Site Restoration Commission and moved the oversight authority to the NRTA effective July 1, 2025.

NOTICE:
Effective May 2, 2025, the Office of Conservation will no longer recognize the Louisiana Oilfield Restoration Association (LORA) as a financial institution acceptable to provide financial instruments to meet the financial security requirements of LAC 43.XIX.104.
Effective immediately, all financial instruments previously issued by LORA will be administered by the Louisiana Natural Resources Trust Authority (NRTA). Until further notice, the Office of Conservation will continue to recognize these instruments as acceptable to meet the financial security obligations of LAC 43.XIX.104 under the terms previously agreed to in writing by LORA and the well operator. However, renewal payments must be remitted directly to the NRTA. Current participants will be contacted with payment instructions and further details about the changes in their program policies.
At this time, the Office of Conservation will not authorize or accept any new instruments or expansion of current financial security instruments previously issued by LORA. This position will be re-evaluated in 6 months.
If Operators choose not to renew with the NRTA their financial security instrument previously issued by LORA, then they will need to secure appropriate financial security from an acceptable financial institution to meet the requirements of LAC 43:XIX.104.