State Mineral and Energy Board

MINERAL BOARD REPORTS AUGUST LEASE SALE TOTALS

The State Mineral Board conducted a Lease Sale August 13, 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 1997-98 Fiscal Year totals.

                   NOMINATED NOMINATED  LEASES   NO. OF  CASH
AMOUNT OF
CLASSIFICATION     TRACTS    ACREAGE    AWARDED  ACRES   PAYMENTS
       

Lease Sale August 13, 1997

State Offshore Leases   22   38,957.070   8   6,053.496  $1,909,925.98
State Onshore Leases    60   44,846.640  20   2,612.970     792,285.22
State Dedicated Leases   0        0.000   0       0.000           0.00
State Agency Leases      1      236.740   1      20.000       5,000.00

TOTAL SALE            83   84,040.450  29   8,686.466  $2,707,211.20

1997-98 Fiscal Year

State Offshore Leases   31   55,432.330  12   7,117.866  $2,422,834.91
State Onshore Leases    99   71,077.760  42   8,067.477   2,185,550.81
State Dedicated Leases   1    2,254.000   1     870.000     270,570.00
State Agency Leases      7    2,400.498   5     657.239     164,222.86

TOTAL YEAR TO DATE   138  131,164.588  60  16,712.582  $5,043,178.58

New Mineral Board members serving on the board are Frank Domino, Sr. of Patterson, Thomas Arnold, Jr. of Harvey, and James Besselman, Jr. of Metairie. All three were appointed by Governor M.J. "Mike" Foster, Jr. in July.