The May State Mineral Auction included a bid tract with two bids from Petrohawk. The winning bid was for the 25% royalty.

42663 BOSSIER Sections 31, 32, 6 T16N, T17N R12W   573.348 Acres  PETROHAWK PROPERTIES, LP  $900.00 Per Acre 23% Royalty

 

42663 BOSSIER Sections 31, 32, 6 T16N, T17N R12W   573.348 Acres  PETROHAWK PROPERTIES, LP   $750.00 Per Acre  25% Royalty

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Jay, J B Land nominated the tract for the LSU Board of Supervisors.   The Board didn't embarrass themselves, they took the quarter royalty.

The board almost always favors royalty over bonus, even more so in a proven area.

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