Gov. Jeff Landry says Louisiana has coastal deal with Exxon | Business News

Gov. Jeff Landry announced Thursday the state had reached an agreement with oil giant Exxon to resolve lawsuits seeking damages from the company of damaging the state’s rapidly-eroding coastline, but details about any potential deal were yet to emerge.

“The State of Louisiana has reached a deal with @ExxonMobil, which resolves the coastal land disputes,” Landry posted to X. “A major part of the resolution includes ExxonMobil partnering with the state to ensure the state’s orphan wells along Louisiana’s coast are addressed.”

Attorney General Liz Murrill said that Louisiana has a deal “in principle” but said that “documents still need to be drawn up and signed.” 

“Any settlements in in the coastal cases are under seal by court order, but I am happy to confirm that we were able to find common ground with Exxon and look forward to a great future together,” she said. 

Exxon is a defendant in several of the 42 lawsuits led by Baton Rouge attorney John Carmouche accusing oil and gas companies for damaging Louisiana’s coastline by dredging canals, polluting marshes, and leaving behind equipment after they had wrapped up their operations. The first of those cases were filed in 2013, and, last year, one finally went to trial in Plaquemines Parish, where a jury ordered Chevron to pay $745 million in damages. 

That verdict is now up in the air after the U.S. Supreme Court ruled in an 8–0 decision that the U.S. Fifth Circuit Court of Appeals was wrong in ruling that the Plaquemines case belonged in state court. That means a federal judge could toss last year’s jury verdict and order that case retried. 

The lawsuits have been viewed as a method of helping the state address its accelerating land loss crisis. Oil companies have argued that they cannot be held responsible for damage when they abided by rules and regulations that existed at the time, while also saying some of their activity was in support of the war effort during World War II.

Landry has made clear he would like to settle the lawsuits at terms acceptable to all parties. “This is huge for Louisiana, our coast, and our environment! ExxonMobil has been in Louisiana for 115 years and we want them to be here for another 115 years!” he added in his social media post. “Shout out to @AGLizMurrill, her team and CEO Darren Woods!”

Carmouche thanked the governor and Attorney General Liz Murrill for their work to resolve the cases that Exxon is involved in.

“Some of the oil companies are realizing that this is a type of case that needs resolution, not fighting in the courtroom for 12 years,” Carmouche said. “I applaud Exxon, Shell, Freeport McMoRan, Apache, and ConocoPhillips for resolving these cases and helping to restore Louisiana’s coast.”

This is a breaking story. Please check back for updates.