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State Mineral Board Holds May Lease Sale
The State Mineral Board conducted its monthly Lease Sale on May 14, 2008, in the Conservation and Mineral Resources Hearing Room of the LaSalle Office Building in Baton Rouge.
According to Mineral Board Secretary Marjorie McKeithen, the state receives over $2.3 million from the sale.
Below are the preliminary results of the May lease sale and 2007-2008 Fiscal Year totals.
| CLASSIFICATION | NOMINATED TRACTS | NOMINATED ACREAGE | LEASES AWARDED | NO. OF ACRES | AMOUNT OF CASH PAYMENTS |
|---|---|---|---|---|---|
|
Lease Sale May 14, 2008 |
|||||
| State Offshore Leases | 4 | 2,288.610 | 2 | 254.716 | $70,046.91 |
| State Onshore Leases | 36 | 36,240.697 | 15 | 4,179.817 | $1,877,442.64 |
| State Dedicated Leases | 4 | 1,859.220 | 1 | 269.540 | $190,025.70 |
| State Non-Dedicated Leases | |||||
| Sabine Island WMA | 0 | 0.000 | 0 | 0.000 | $0.00 |
| White Lake Leases | 0 | 0.000 | 0 | 0.000 | $0.00 |
| State Agency Leases | 2 | 67.290 | 2 | 67.290 | $229,774.53 |
| Total Sale | 46 | 40,455.817 | 20 | 4,771.363 | $2,367,289.78 |
| NOTE: The totals for this sale do not refflect any options that may be exercised or revisions to acreage and cash amounts that may take place after this sale date which may cause these totals to change. | |||||
 |
|||||
| 2007-2008 Fiscal Year | |||||
| State Offshore Leases | 76 | 133,364.670 | 29 | 20,272.936 | $8,728,119.73 |
| State Onshore Leases | 453 | 467,786.591 | 165 | 45,676.006 | $14,796,796.15 |
| State Dedicated Leases | 42 | 66,169.140 | 19 | 2,559.990 | $952,020.43 |
| State Non-Dedicated Leases | |||||
| Sabine Island WMA | 4 | 3,484.000 | 1 | 672.000 | $272,160.00 |
| White Lake Leases | 24 | 23,222.440 | 1 | 740.000 | $900,950.00 |
| State Agency Leases | 42 | 3,956.012 | 37 | 2,942.712 | $1,517,770.62 |
| Total Year to Date | 641 | 697,982.853 | 252 | 72,863.644 | $27,167,816.930 |
| NOTE: The Fiscal Year totals include this sale's totals and also options exercised and revisions to acreage and cash amounts that may have taken place from the date of the last sale to this state lease sale. | |||||