The state of Louisiana and Exxon Mobil have reached a tentative agreement to settle years of litigation over the oil major’s liability for coastal erosion in the state.
Louisiana Gov. Jeff Landry, a Republican, announced the news on the social media site X last week, saying the deal “resolves the coastal land disputes.” He said a major part of the agreement would require Exxon to partner with the state to ensure orphan wells along Louisiana’s coast are addressed.
Landry, who has sought to settle the lawsuits, wrote in his post that the deal was “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!”
The news follows a Supreme Court ruling earlier this year that handed a procedural win to Exxon and other oil companies involved in the coastal erosion cases. Several Louisiana parishes have sued the fossil fuel industry for contributing to the retreat of the state’s fragile coastline.
