State Mineral and Energy Board

January mineral lease sale brings $4 million to state

Wednesday, January 13, 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 million in bonuses in the sale, bringing the total collected for the financial year that began July 1 to more than $38.9 million.

In all, 31 leases covering more than 8,100 acres were awarded, out of 53 nominated tracts covering more than 38,771 acres, in the January sale.

The Board sold leases in 12 parishes – Bienville, Caddo, Cameron, DeSoto, East Baton Rouge, Jefferson, Jefferson Davis, Lafourche, Plaquemines, Sabine, St. Mary and Vermillion. Of the 31 leases sold, the majority were sold in south Louisiana, with 26 leases sold in southern parishes and 5 in north Louisiana.

All five of the north Louisiana leases were sold in the area of the Haynesville Shale natural gas formation -- in Bienville, Caddo, DeSoto and Sabine parishes. Lease sale prices remain strong in that area, with the five Haynesville Shale area leases averaging more than $9,200 an acre.


Lease Sale January 13, 2010

State Offshore Leases 15 16,870.420 7 4,205.010 $1,066,670.40
State Onshore Leases 18 17,743.632 8 2,474.862 $1,525,812.59
State Dedicated Leases 3 3,714.380 1 1,075.530 $454,949.19
State Agency Leases 17 443.057 15 354.057 $1,052,233.31
Total Sale 38 38,771.489 31 8,109.459 $4,099,665.49
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 163 123,012.678 91 12,879.884 $11,555,477.45
State Dedicated Leases 13 22,316.900 8 3,193.660 $1,316,592.29
State Agency Leases 66 3,724.675 60 3,184.335 $23,873,840.61
Total Year to Date 284 210,591.983 172 27,089.481 $38,921,053.36
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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