State Mineral and Energy Board

STATE MINERAL BOARD HOLDS AUGUST MEETING

The State Mineral Board conducted a Lease Sale August 14, 1996 at 10:00 a.m. in the Mineral Board Hearing Room located in the State Land and Natural Resources Building in Baton Rouge. Below are the preliminary results of the Lease Sale and 1996-97 Fiscal Year totals.

                   NOMINATED  NOMINATED  LEASES    NO. OF        AMOUNT OF
CLASSIFICATION        TRACTS   ACREAGE    AWARDED   ACRES      
                                                                CASH PAYMENTS

Lease Sale August 14, 1996
State Offshore Leases     18   16,416.085   13    11,571.435   $1,886,248.82
State Onshore Leases      50   24,697.710   33     3,441.050      851,852.36
State Dedicated Leases     0        0.000    0         0.000            0.00
State Agency Leases        3      859.890    2       859.890      156,506.89

TOTAL SALE
                          71   41,973.685   48    15,872.375   $2,894,608.07

1996-97 Fiscal Year
State Offshore Leases     46   60,851.415   27    23,256.065   $3,985,388.59
State Onshore Leases      81   51,261.420   46     5,320.480    1,835,025.60
State Dedicated Leases     0        0.000    0         0.000            0.00
State Agency Leases        7    1,502.046    4     1,338.420      295,406.98

TOTAL YEAR TO DATE       
                         134  113,614.881   77     29,914.965   $6,115,821.17

In other business, the Board accepted a recommendation of DNR Secretary Jack Caldwell to extend for two more years a moratorium on new oil and gas leasing on Lake Pontchartrain. Oil and gas operators will not be able to apply for new leases during the period. The board had imposed a prior ban on new leases that expired this month. Caldwell further suggested that an advisory group be selected to review future options for the lake. Mineral Board member Bill Allerton said the board would keep all enviornmental concerns about Lake Pontchartrain in the forefront.

EDITORS: For more information, contact Gus Rodemacher, DNR Office of Mineral Resoures (504) 342-4607.