State Mineral and Energy Board

MINERAL BOARD LEASE SALES POSTED FOR JUNE FY 96/97 FIGURES FROM MINERAL REVENUE BEST IN TWELVE YEARS

Wednesday, June 18, 1997

Mineral lease sales are the highest in twelve years, according to figures available from the Louisiana Mineral Board. Department of Natural Resources' Office of Mineral Resources Assistant Secretary Gus Rodemacher said these latest figures verify that Louisiana's oil and gas industry continues a strong performance after recent years of slowed activity. He said data from Mineral Board records show that fiscal year 1984/85 totals reached over 63 million dollars, the highest on record. Rodemacher said the FY 1996/97 total lease sale results are $55,254, 297.

The state Mineral Board conducted a Lease Sale June 11, 1997 at 10:00 a.m. in the Mineral Board Hearing Room located in the State Land and Natural Resources Building in Baton Rouge. Below are the preliminary results of the Lease Sale and 1996-97 Fiscal Year totals.

 

			NOMINATED	NOMINATED	LEASES	NO. OF		AMOUNT OF
CLASSIFICATION		TRACTS		ACREAGE		AWARDED	ACRES		CASH PAYMENTS
Lease Sale June 11, 1997
State Offshore Leases	21		28,640.750	5	3,998.050	$1,156,114.34
State Onshore Leases	66		23,340.060	28	4,988.970	1,322,088.60
State Dedicated Leases	0		0.000		0	0.000	 	0.00
State Agency Leases	9		759.519		7	117.750		83,880.00

TOTAL SALE		96		52,740.329	40	9,104.770	$2,562,082.94

1996-97 Fiscal Year
State Offshore Leases	178		227,121.249	74	55,069.929	$12,868,630.02
State Onshore Leases	743		642,929.528	368	112,686.109	40,108,808.27
State Dedicated Leases	0		0.000		0	0.000		0.00
State Agency Leases	96		29,410.851	60	10,842.330	2,286,858.38

TOTAL YEAR TO DATE	1,017		899,461.628	502	178,598.368	$55,264,296.67
Editors: For more information on this report, please contact Gus Rodemacher at (504) 342-4607.

 

 

 

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