State Mineral and Energy Board

March mineral lease sale brings approximately $4.7 million

Wednesday, March 10, 2010

The state Mineral and Energy Board on Wednesday conducted its monthly lease sale in the LaBelle Room of the LaSalle Office Building in Baton Rouge.

The board collected more than $4.7 million in bonuses in the sale, bringing the total collected for the financial year that began July 1 to more than $49.9 million.

Department of Natural Resources Secretary Scott Angelle, who chairs the Mineral and Energy Board, also announced to the Board that Louis Buatt will serve as interim assistant secretary for the Office of Mineral Resources within DNR.

Former Assistant Secretary for the Office of Mineral Resources Monique Edwards has elected to return to the private sector. Edwards had served a year with the Office of Mineral Resources, while maintaining her post as executive counsel with DNR.

Buatt will continue in his role as assistant secretary with DNR’s Office of Coastal Management while serving as interim assistant secretary with the Office of Mineral Resources.

“I appreciate the dedication and expertise Monique brought to this Department in her time here and wish her well in the private sector,” Angelle said. “Lou has been and will continue to be a great asset for this Department. He is adaptable to new situations and has a proven record of capably managing multiple projects and getting the very best out of his staff.”

Buatt has more than 14 years of state service. Prior to joining DNR in 2008, he served with the Department of Environmental Quality as an assistant secretary. Buatt has also been general counsel for DEQ, an attorney for the Office of Environmental Assessment and, prior to his state service, he was in private practice in Lake Charles and in Houston.

Buatt has a Bachelor of Science in geology from Louisiana State University, a Juris Doctorate from Southern University and a LL. M., advanced law degree, in Energy and Environmental Law from the University of Houston

Angelle also made a presentation to the Board to give the members an update on the status of oil and natural gas exploration and production in the state, noting that the Haynesville Shale has grown to become the biggest factor in state drilling activity in the past year.

In Wednesday’s Mineral and Energy Board meeting, 15 leases covering more than 2,244 acres were awarded, out of 23 nominated tracts covering more than 18,752 acres, in the March sale.

The Board sold leases in eight parishes – Bienville, Bossier, Caddo, Cameron, DeSoto, Ouachita, Pointe Coupee and Terrebonne.  Of the 15 leases sold, the majority were sold in north Louisiana, with nine leases sold in northern parishes and six in south Louisiana.

Of the nine north Louisiana leases sold, seven were in the area of the Haynesville Shale natural gas formation – in Bienville, Bossier, Caddo and DeSoto parishes. Lease sale prices remain strong in that area, with the 7 Haynesville Shale area leases averaging about $9,500 an acre. All but two of those leases went for better than $6,700 an acre.


Lease Sale March 10, 2010

State Offshore Leases 10 17,918.600 2 1,411.400 $2,087,116.70
State Onshore Leases 6 372.640 6 341.640 $938,271.96
State Dedicated Leases 0 0.000 0 0.000 $0.00
State Agency Leases 7 460.778 7 460.778 $1,737,545.39
Total Sale 23 18,752.018 15 2,213.818 $4,762,934.05
NOTE: The totals for this sale do not reflect any options that may be exercised or revisions to acreage and cash amounts that may take place after this sale date which may cause these totals to change.
2009-2010 Fiscal Year          
State Offshore Leases 52 79,456.330 15 9,243.002 $4,262,259.71
State Onshore Leases 184 129,339.068 105 14,667.254 $14,786,051.06
State Dedicated Leases 13 22,321.900 8 3,193.660 $1,316,592.29
State Agency Leases 78 4,443.964 72 3,903.624 $29,622,969.33
Total Year to Date 327 235,561.262 200 31,007.540 $49,987,872.39
NOTE: The Fiscal Year totals include this sale totals and also options exercised and revisions to acreage and cash amounts that may have taken place from the date of the last sale to this state lease sale.

2010 Calendar Year - Mineral Lease Sale figures

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