ENERGY/OIL & GAS WELLS: Establishes an inactive well fee assessment credit (EG INCREASE GF EX See Note)

HB 596 creates a credit for oil and gas operators who plug inactive wells that are 10 years or older. Operators who properly plug and restore such wells (passing department inspection) can receive a $4.50 per foot credit, applied directly to reduce their existing inactive well fee obligation. This credit applies only to wells meeting the age and plugging requirements, with operators needing to formally apply to the department. The bill affects oil and gas companies responsible for inactive wells in Louisiana, offering a financial incentive to address legacy wells.