State Mineral and Energy Board

State Mineral Board Holds May Lease Sale

Monday, May 19, 2008

The State Mineral Board conducted its monthly Lease Sale on May 14, 2008, in the Conservation and Mineral Resources Hearing Room of the LaSalle Office Building in Baton Rouge.

According to Mineral Board Secretary Marjorie McKeithen, the state receives over $2.3 million from the sale.

Below are the preliminary results of the May lease sale and 2007-2008 Fiscal Year totals.

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

Lease Sale May 14, 2008
State Offshore Leases 4 2,288.610 2 254.716 $70,046.91
State Onshore Leases 36 36,240.697 15 4,179.817 $1,877,442.64
State Dedicated Leases 4 1,859.220 1 269.540 $190,025.70
State Non-Dedicated Leases          
    Sabine Island WMA 0 0.000 0 0.000 $0.00
    White Lake Leases 0 0.000 0 0.000 $0.00
    State Agency Leases 2 67.290 2 67.290 $229,774.53
Total Sale 46 40,455.817 20 4,771.363 $2,367,289.78
NOTE: The totals for this sale do not refflect 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.
         
2007-2008 Fiscal Year          
State Offshore Leases 76 133,364.670 29 20,272.936 $8,728,119.73
State Onshore Leases 453 467,786.591 165 45,676.006 $14,796,796.15
State Dedicated Leases 42 66,169.140 19 2,559.990 $952,020.43
State Non-Dedicated Leases          
    Sabine Island WMA 4 3,484.000 1 672.000 $272,160.00
    White Lake Leases 24 23,222.440 1 740.000 $900,950.00
    State Agency Leases 42 3,956.012 37 2,942.712 $1,517,770.62
Total Year to Date 641 697,982.853 252 72,863.644 $27,167,816.930
NOTE: The Fiscal Year totals include this sale's 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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