In an unprecedented hearing today, the Louisiana Tax Commission ruled to give 90% obsolescence to Future Utility wells, reversing the Commission’s adopted rule of 60% for Future Utility wells published in the January Louisiana Register.

LIOGA President Don Briggs, Daron Frederickson and Ken Cariker of Affiliated Tax Consultants, and Chris Dicharry of Kean Miller, all testified on behalf of LIOGA and the industry in today’s hearing. There are approximately 10,200 Future Utility wells in the state of Louisiana. The reversal of the Tax Commission from 60% obsolescence to 90% obsolescence is a major victory for industry.