TAX/SEVERANCE TAX: Provides relative to horizontal well exemption (Item #9) (EN NO IMPACT See Note)

HB 25 amends Louisiana's severance tax law to establish specific definitions for calculating the "payout of well cost" for horizontal wells. The bill requires an independent certified public accountant to issue a verified "well cost statement" that details expenses up to the start of production. This statement must follow standard accounting rules and include a certification that the accountant has no relationship with the oil or gas operator. These new definitions are intended to clarify how tax exemptions for well completion costs are determined. The legislation does not create new exemptions but rather sets the criteria for applying existing ones.