Office of Mineral Resources

Board Announces Jump in March Mineral Lease Sale

Thursday, March 21, 2002

Baton Rouge—The State Mineral Board conducted a Lease Sale March 13, 2002 at 10:00 a.m. in the Mineral Board Hearing Room located in the LaSalle Office Building in the Capitol Complex in downtown Baton Rouge. Below are the preliminary results of the Lease Sale and 2001-2002 Fiscal Year totals.

This month's lease sale jumped dramatically over totals from last month, reported Mineral Board Secretary Gus Rodemacher. In February there were eleven tracts nominated as compared to 215 tracts this month, he said. "Looking ahead at coming months, we are expecting continued fluctuation in the number of tracts nominated and income from the sales, Rodemacher said. There are 45 tracts nominated in April, 58 tracts in May, and 97 tracts in June.

This month's lease sale was $5.9 million.

Classification Nominated Tracts Nominated Acreage Leases Awarded No. of Acres Amount of Cast Payments
Lease Sale March 13, 2002

 

        
State Offshore Leases 31 33,588.550 11 5,798.390 $1,255,504.61
State Onshore Leases 176 387,669.260 47 18,555.250 4,542,105.93
State Dedicated Leases 1 643.000 0 0.000 0.00
State Agency Leases 7 1,136.683 4 256.923 92,166.90
           
TOTAL SALE 215 423,037.493 62 24,721.563 $5,889,777.44
           
2001-2002 Fiscal Year          
State Offshore Leases 150 214,865.670 45 15,474.410 5,346,103.91
State Onshore Leases 532 758,957.550 186 50,487.410 13,052,877.95
State Dedicated Leases 32 32,177.410 10 1,266.490 587,824.05
State Agency Leases 25 4,617.191 16 1,217.187 383,264.70
           
TOTAL YEAR TO DATE 739 1,010,617.821 257 74,985.727 $19,326,988.87

Editors: For more information call Assistant Secretary, DNR Office of Mineral Resources, Gus Rodemacher at 225-342-4607 or call Sandra Bailey at 225-342-4608.
 

 

 

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