Port Fourchon director appointed to CPR Financing Corp.

July 10, 2008
Governor Bobby Jindal has appointed Ted Falgout, Port Fourchon director, to the Coastal Protection and Restoration Financing Corp.

Offshore staff

GALLIANO, Louisiana -- Governor Bobby Jindal has appointed Ted Falgout, Port Fourchon director, to the Coastal Protection and Restoration Financing Corp.

The CPRFC is authorized to carry out the financing, purchasing, owning, and managing of the offshore royalty revenues and offshore royalty revenue assets. The board works closely with the governor's office of the Coastal Protection and Restoration Authority.

"The Port has long been a leader in working to secure a share of the federal offshore oil and gas revenues for the state and now it appears I will have the chance to expand our leadership role," says Falgout.

According to statute, the board is comprised of 15 members which include the governor, the state treasurer, the attorney general, the president of the Senate, the speaker of the House of Representatives, the chairman of the Coastal Protection and Restoration Authority, the secretary of the Department of Natural Resources, and the secretary of the Department of Transportation and Development, or their designees. The governor appoints the other seven members, which are subject to senate confirmation. The gubernatorial appointments are selected from each of the seven congressional districts. Falgout represents the 3rd Congressional district.

"I am very pleased that Ted was appointed. I recommended him from day one. I believe that he is a perfect fit for this board and is most qualified for the position due to his experience in securing bonds for the LA1 project," says Sen. Reggie Dupre.

The other members appointed to the board include John Becker, Frank Bonifay, Bill Krutzer, King Milling, Frederick Prejean Sr., and Aubrey Temple Jr.

07/10/2008

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