State Mineral and Energy Board

February mineral lease sale brings approximately $6.3 million

Wednesday, February 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 $6.3 million in bonuses in the sale, bringing the total collected for the financial year that began July 1 to more than $45.2 million.

In all, 13 leases covering more than 1,700 acres were awarded, out of 20 nominated tracts covering more than 6,200 acres, in the February sale.

The Board sold leases in six parishes –Caddo, Calcasieu, DeSoto, Jefferson, Red River and Terrebonne.  Of the 13 leases sold, the majority were sold in north Louisiana, with 10 leases sold in northern parishes and three in south Louisiana.

All 10 of the north Louisiana leases were sold in the area of the Haynesville Shale natural gas formation -- in Caddo, DeSoto and Red River parishes. Lease sale prices remain strong in that area, with the 10 Haynesville Shale area leases averaging about $9,200 an acre. More than half of those leases went for better than $12,000 an acre.

Leases sold by the Mineral and Energy Board on behalf of the Red River Waterway Commission brought more than $3.9 million for the Waterway Commission. That commission is responsible for management of right-of-way for projects and development and operation of recreational facilities along the Red River in its seven-parish area.

The Board also sold more that $80,000 in leases on behalf of the city of Mansfield. Mansfield Mayor Curtis McCoy attended the lease sale meeting, and said the Haynesville Shale had been a great boost for the economy and local government throughout the area.

“We appreciate the work that the Mineral and Energy Board, the staff of the state Office of Mineral Resources and the Department of Natural Resources have done in helping us to make the most of our opportunities with the Haynesville Shale activity,” McCoy said.


Lease Sale February 10, 2010

State Offshore Leases 0 0.000 0 0.000 $0.00
State Onshore Leases 15 5,958.750 8 1,445.730 $2,292,301.65
State Dedicated Leases 0 0.000 0 0.000 $0.00
State Agency Leases 5 258.511 5 258.511 $4,011,583.33
Total Sale 20 6,217.261 13 1,704.241 $6,303,884.98
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 42 61,537.730 13 7,831.602 $2,175,143.01
State Onshore Leases 178 128,966.428 99 14,325.614 $13,847,779.10
State Dedicated Leases 13 22,316.900 8 3,193.660 $1,316,592.29
State Agency Leases 71 3,983.186 65 3,442.846 $27,885,423.94
Total Year to Date 304 216,809.244 185 28,793.722 $45,224,938.34
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.
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