Leases bring $2.1 M for Caddo, Shreveport

SHREVEPORT, LA (AP) - Mineral lease bonus payments in the Haynesville Shale natural gas area totaled more than $2.1 million this past week for Caddo Parish and Shreveport.

Parish government raked in another $1.3 million in advance payments as part of an agreement to allow oil or natural gas to be extracted. The state Mineral Board leased rights to about 165 acres of Caddo public property during its auction in Baton Rouge on Wednesday.

The 13 tracts averaged $7,907 per acre with a 25 percent royalty rate for any minerals drawn. Shreveport will receive almost $835,000 for 87 acres, The Times newspaper reported.

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