Abstract: Provides relative to compensation to owners in interest in a unitization.

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Present law (R.S. 30:1104.2(C)) requires a unitization order to provide for just and equitable compensation for all owners in interest and the storage operator. Present law also requires the order to provide for the method, formula, or other basis to determine the just and equitable share of the
benefits.

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Proposed law retains present law and requires that an owner in interest be paid the maximum compensation paid per acre to any other owner in interest in the unitization.

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Present law (R.S. 30:1104.2(D)) authorizes the operator of a proposed storage unit or any owner in interest who has not entered into a contract with the proposed storage unit operator to have the court review whether the purpose for the storage unit is public and necessary, whether the compensation is just, and, if not, the amount of just compensation due. The court's review in those instances is limited to the compensation affecting the specific owner in interest seeking review. A jury trial on the matter may be requested, and the proceeding shall be conducted by preference.

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Proposed law retains present law and permits the court to request information necessary to determine compensation for an owner in interest.