STATE MINERAL AUCTION RESULTS ARTICLE - 12/10/2009 - SHREVEPORTTIMES.COM
December 10, 2009
DeSoto School Board gets $6.1 million in recent lease sale
By Vickie Welborn
vwelborn@gannett.com
Per-acre lease bonuses took a huge leap at this week’s state Mineral Board sale with acreage in the Haynesville Shale region in DeSoto Parish commanding over $18,500 an acre.
The figure is reminiscent of the big payouts that were commonplace when the leasing frenzy hit this region in early 2008. And it’s a noticeable jump over lease bids that have been hovering around $8,000 to $9,000 an acre for the past several months.
It still falls shy of the high mark of $30,000 per acre reached in the summer of 2008. Leasing took a nose dive last fall when the economy stalled, dropping bonuses to below $1,000 an acre.
This month’s biggest recipient in north Louisiana was the DeSoto Parish School Board, which received its first Haynesville Shale leasing bonuses. The School Board will get $6.1 million overall.
The largest check will be $3.4 million for scattered acreage around Mansfield. Classic Petroleum was the high bidder at $18,537 for the 185.6 acres.
Classic Petroleum paid $13,537 per acre for a 320-acre tract that the DeSoto School Board shares – at least when it comes to revenue – with the Red River Parish School Board. DeSoto will get 77.8 percent, or $2.1 million, of the $2.7 million payment.
Also getting lease bonuses Wednesday were:
• Caddo Parish Levee District - $9,225 for 30 acres bordering Kelly Bayou Canal, with the price per acre set at $307.50
• Town of Ringgold - 22.5 acres in two tracts; $7,027 for a tract measuring less than an acre and $9,027 an acre for 21.5 acres, resulting in a bonus payment of almost $195,000.
• DeSoto Parish Police Jury - 2 acres at the Benson compactor site; $9,214 per acre, or $18,428 bonus.
Read more in Friday's newspaper and at shreveporttimes.com
DeSoto School Board gets $6.1 million in recent lease sale
By Vickie Welborn
vwelborn@gannett.com
Per-acre lease bonuses took a huge leap at this week’s state Mineral Board sale with acreage in the Haynesville Shale region in DeSoto Parish commanding over $18,500 an acre.
The figure is reminiscent of the big payouts that were commonplace when the leasing frenzy hit this region in early 2008. And it’s a noticeable jump over lease bids that have been hovering around $8,000 to $9,000 an acre for the past several months.
It still falls shy of the high mark of $30,000 per acre reached in the summer of 2008. Leasing took a nose dive last fall when the economy stalled, dropping bonuses to below $1,000 an acre.
This month’s biggest recipient in north Louisiana was the DeSoto Parish School Board, which received its first Haynesville Shale leasing bonuses. The School Board will get $6.1 million overall.
The largest check will be $3.4 million for scattered acreage around Mansfield. Classic Petroleum was the high bidder at $18,537 for the 185.6 acres.
Classic Petroleum paid $13,537 per acre for a 320-acre tract that the DeSoto School Board shares – at least when it comes to revenue – with the Red River Parish School Board. DeSoto will get 77.8 percent, or $2.1 million, of the $2.7 million payment.
Also getting lease bonuses Wednesday were:
• Caddo Parish Levee District - $9,225 for 30 acres bordering Kelly Bayou Canal, with the price per acre set at $307.50
• Town of Ringgold - 22.5 acres in two tracts; $7,027 for a tract measuring less than an acre and $9,027 an acre for 21.5 acres, resulting in a bonus payment of almost $195,000.
• DeSoto Parish Police Jury - 2 acres at the Benson compactor site; $9,214 per acre, or $18,428 bonus.
Read more in Friday's newspaper and at shreveporttimes.com
Views: 47
Replies to This Discussion
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Permalink Reply by Skip Peel - Mineral Consultant on
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Lease Sale and Tract History - Lease Sale Date: 12.09/2009, Link:
http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_min_leas_tract1
Leave the Tract Number blank and just click: Submit Query to see all the tracts and bids.
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Permalink Reply by Skip Peel - Mineral Consultant on
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Except for the $18,537/acre winning bid in DeSoto, which is somewhat of a surprise, IMO the other winning bids are good indicators of current bonus value by location and size of tract. The DeSoto tract is 185 acres in 20 sections. Road rights-of-way? And of the 26 HA unit orders in the township, Chesapeake has 20. So it's a fair guess that Classic Petroleum will be assigning this state lease to CHK. I suggest that a good way to scroll through the bids is to place your cursor over the "Price Per Acre" column and keeping it there, scroll down. Note location by parish, township/range and tract acres.
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Permalink Reply by Shaleeee on -
Who and what is classic Petroleum - I have not heard of them before this - do they drill or just flip leases - are they a legit drilling co - is this co. a serious contender - such as CHK - Enncana - Devon . . . .
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Permalink Reply by Skip Peel - Mineral Consultant on
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Classic Petroleum is a land company. Not an operator. They place bids for clients in the state mineral auctions. Some operators bid in their own names but not often. As an example, Comstock was a bidder in this auction. I have never seen Chesapeake or Petrohawk bid in their own names. They always use surrogates.
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