June mineral lease sale brings approximately $1.4 million
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The state Mineral Board on Wednesday conducted its monthly lease sale in the LaBelle Room of the LaSalle Office Building in Baton Rouge.
The board collected more than $1.4 million in bonuses in the sale, bringing total collections on mineral leases for the financial year that began July 1, 2008 to $200.1 million. Of that $200.1 million, approximately $143 million went to state government and approximately $57 million went to local governments.
In all, 11 leases covering 477 acres were awarded, out of 11 nominated tracts covering 6,524 acres, in the June sale.
The Board sold leases in 7 parishes – Allen, Caddo, Concordia, DeSoto, Jefferson Davis, Plaquemines and Red River. The majority of activity in the June lease sale was in north Louisiana, with eight of the 11 tracts leased located in the northern end of the state.
Of the 11 leases sold, 7 were located in the northwestern parishes of Caddo, DeSoto and Red River.
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Replies to This Discussion
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Permalink Reply by The_Baron on
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best bonus was $6,727.00/acre for a tract in Red River and a tract in Desoto.
Most of the tracts appear to be WMA areas.
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Permalink Reply by Skip Peel - Mineral Consultant on
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The seven NW. LA. tracts averaged bonus payments of $4,002 per acre.
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Permalink Reply by Professor Fred on
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what Company paid this lease amount?
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Permalink Reply by Spring Branch,mineral owner on -
Who were the high bidders for the 7 tracts?
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Permalink Reply by Skip Peel - Mineral Consultant on
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The Baron was kind enough to include a link in this topic post. You can view the winning bids and bidders by clicking on it above.
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Permalink Reply by The_Baron on
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Thank you Skip.
It is worth mentioning though that Classic Petroleum is a consultant that buys state leases for others, they do a lot of work for CHK.
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Permalink Reply by Skip Peel - Mineral Consultant on
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Correct. And I see Petrohawk bidding under their own name. Last year Theophillos made bids on state tracts for them.
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