State Mineral and Energy Board

MINERAL BOARD REPORTS JUMP IN LEASE SALE FOR MARCH'S MINERAL LEASE SALE

A near record-breaking mineral lease sale of $10.4 million has been recorded this week at the March meeting of the state Mineral Board, reported Assistant Secretary of the Office of Mineral Resources Gus Rodemacher. He said this figure represents the highest total monthly lease sale since November 1984, when the total was $12.3 million. "This obviously signals a healthy growth in mineral revenues for the state," Rodemacher said.

Additionally, state Mineral Board figures indicate that total revenues from leases for last fiscal year was $33 million while the current 1996/97 totals take a substantial jump to $41.8 million with four remaining months left on the fiscal year calendar.

The state Mineral Board conducted its Lease Sale on March 12 and 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 March 12, 1997
State Offshore Leases         9      9,009.200     3    2,165.230            $598,686.10
State Onshore Leases         73     75,738.598    44    9,971.348            10,186,166.82
State Dedicated Leases        0          0.000     0        0.000            0.00
State Agency Leases           5        256.015     1        3.460            1,044.92

TOTAL SALE                   87     85,003.813    48   12,140.038            $10,785,897.84

1996-97 Fiscal Year
State Offshore Leases       144    189,532.719    59   46,551.469            $10,337,386.31
State Onshore Leases        543    478,622.218   277   81,406.993            29,797,975.14
State Dedicated Leases        0          0.000     0        0.000            0.00
State Agency Leases          77     27,211.532    46   10,272.360            2,102,914.20

TOTAL YEAR TO DATE          764    695,366.469   382  138,230.822            $42,238,275.65

In other Board business, Mineral Board chairman E.L. Guidry, Jr. announced his departure from the Board to become a member of the state Ethics Board. Monica Suprenant of New Orleans was elected to replace Guidry as chair, while Hal Stiel of Franklin was chosen vice-chairman.

Editors: For more information, please contact Gus Rodemacher at (504) 342-4607.