ABOUT LORA FOUNDATION
The Lora Foundation understands the important role oil and gas plays in our economy and our standard of living, but it also understands the responsibility that we have to future generations. The LORA Foundation is committed to ensuring that orphan wells in Louisiana are properly plugged and abandoned to protect our community and our environment.
Why the Organization was Formed
The Louisiana Office of Conservation regulates the requirements for properly capping and securing wells, a process known as "plugging and abandoning."
LORA Financial Securities was formed to serve the oil and gas community, helping oil well owners fulfill their regulatory security requirements. As a security entity, LORA FS plugs wells when its members’ wells become orphan, but LORA’s leadership realizes that it’s not enough. That is why we formed LORA Foundation. Now you can be part of the solution.
Orphan wells that are not properly plugged and abandoned can have a devastating effect on surrounding communities and the environment. They can be physical dangers that can cause harm to people, pets and wildlife.
Orphan wells left to rust to the elements can leach harmful toxins into the air, as well as the surrounding soil and water. Unplugged wells emit millions of metric tons of harmful greenhouse gasses like methane and carbon into the atmosphere every year with no end in sight. With millions of unplugged wells left abandoned across the country, we need a solution to this environmental problem… and we need it now.
Goals and Drivers
At the LORA Foundation, our goal is to fight climate change one well at a time. Our mission is to work with the Louisiana Department of Natural Resources and the Louisiana Office of Conservation to reduce the escalating orphan well numbers and provide safe, efficient, and effective plugging and abandonment solutions. Our vision is to help reduce that list of 4,000 orphan wells to zero.
Louisiana is a Sportsman’s Paradise, but it is blighted by discarded and abandoned orphan wells dotting the landscape and waterways. We work with local landowners, energy companies, state and parish governmental authorities, environmental groups, and everyday Louisiana citizens that want to restore our beautiful state and country. We want to leave the land better for our children than when we found it by properly plugging and abandoning orphan wells to protect our community and our environment.
With your donation, we can reach our goals, succeed in our mission, and make our vision of an orphan well-free Louisiana a reality.