Oil and Gas

Louisiana was unchanged; greedy trial lawyers must be vacationing.

When Sen. Bret Allain (R-Franklin) realized the odds were stacked against his Senate Bill 531, he shopped venues until he found a committee more favorable to killing the lawsuit filed by the New Orleans levee board against 97 oil and gas companies.

"There is litigation pending, and there is a venue and an opportunity pending ... to make those arguments and to win. This ain't the place." — Sen. Danny Martiny, R-Kenner.

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The NYSE-traded independent oil and gas producer's stock price, which has been steadily climbing, is up $1.06 Wednesday, to $44.29.

The state Senate is expected to vote Wednesday on Sen. Robert Adley’s S.B. 469, which would retroactively prevent levee boards from filing suit against the oil and gas industry.

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