Shale Daily / NGI All News Access

North Louisiana Garners More Interest in Latest Sale

The latest monthly lease sale held by Louisiana's Mineral and Energy Board last Wednesday garnered more than $500,000 in bonuses, which brought the total collected for fiscal 2010-2011 to more than $24.3 million.

For the calendar year the February sale brought the total netted to $2.7 million, the board said.

The latest sale saw significantly fewer leases awarded than in January; however this time around 40% of the tracts awarded were in North Louisiana, home to the state's shale gas country. In the larger January sale only 14% of the tracts awarded were in North Louisiana.

In last Wednesday's sale ten leases were awarded covering more than 380 acres out of 17 nominated tracts covering more than 7,000 acres. The board sold leases in Acadia, Caddo, Iberia, Jefferson Davis, Lafayette, Plaquemines and Sabine parishes. Of the 10 tracts awarded, four are in North Louisiana and six are in the southern parishes.

In the January sale the board collected more than $2.2 million in bonuses. It awarded 22 leases covering more than 5,200 acres, out of 58 nominated tracts covering more than 79,000 acres. The board sold leases in Acadia, Allen, DeSoto, Jefferson, Lafourche, Red River, Sabine, St. Mary and Vermilion parishes. Of the 22 tracts awarded, three are in North Louisiana and 19 are in the southern parishes.

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