The city of Mansfield gained more than $80,000 in bonus payments when it leased mineral rights on almost six acres during Wednesday's monthly lease sale in Baton Rouge.
The Haynesville Shale is a great boost for the economy and local government throughout the area, said Mansfield Mayor Curtis McCoy, who attended the lease sale meeting.
"We appreciate the work that the Mineral and Energy Board, the staff of the state Office of Mineral Resources and the Department of Natural Resources have done in helping us to make the most of our opportunities with the Haynesville Shale activity," McCoy said in a prepared statement.
Overall, the Mineral Board collected more than $6.3 million in bonuses, bringing the total collected for the financial year that began July 1 to more than $45.2 million. The 13 leases covered more than 1,700 acres.
In addition to DeSoto, leases were sold in Caddo, Calcasieu, Jefferson, Red River and Terrebonne parishes. All 10 of the north Louisiana leases were sold in the area of the Haynesville Shale natural gas formation in Caddo, DeSoto and Red River parishes.
Lease sale prices remain strong in the shale region with prices averaging about $9,200 an acre. Mansfield's bids exceeded that, going for $12,427 an acre. Unrelated bids elsewhere in DeSoto and in Red River parishes went for $15,618 an acre.
The city-owned land includes a half-acre in Section 19 near U.S. Highway 84 and 5.9 acres in Section 21 that includes streets and rights of way in and around Meadow Park Subdivision. Classic Petroleum was the high bidder on both tracts.
The DeSoto Parish School Board got $10,963 for a 1-acre tract of water beds and bottoms.
The biggest money-maker was the Red River Waterway Commission that brought in more than $3.9 million. The commission is responsible for management of right of way for projects and development and operation of recreational facilities in a seven-parish area along the Red River.
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