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Oil & Gas ProPermalink Reply by Skip Peel - Mineral Consultant on January 4, 2011 at 3:52

DeSoto panel sets lower bid for leasing

 

By Vickie Welborn • vwelborn@gannett.com • January 4, 2011

 

 MANSFIELD — Minimum lease bids set in recent months by the DeSoto Parish Police Jury have failed to gain any takers at the state Mineral Board sales so
the parish's Administrative Committee has recommended a lower price. 

 

 The full panel will vote next week on Monday's committee recommendation to set the minimum at $6,000 an acre. That's an estimate Chesapeake Energy
officials said they are comfortable with, and that's the company which
will nominate two separate tracts for bidding.

The lease bonus could go higher if other companies also have their sights set on the land. The Police Jury's previous minimum of $10,000 an acre
is "essentially not there," attorney Dannye Malone said.

Public
affairs senior coordinator Jennifer Voisin also shared information
indicating that while cold weather conditions across the country has
boosted demand for heating, natural gas prices nonetheless have
decreased in most markets except in the Northeast. Analysts also
forecast lower prices given the ample winter supply levels

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