Thursday, January 14, 2010

LA Lease Sale Nets $9,251/Acre

The Louisiana Mineral Board held its monthly oil and gas lease auction yesterday.  Of the 31 leases auctioned, five were in the Haynesville Shale region, and those leases netted $9,251/acre.  All of the bids had 25% royalties.  Please keep in mind that the bids listed below were the highest bids and therefore the winning bids. Other bids may have come in lower.  Here is the bid list (scroll down to 1/13/10 and hit "submit") and a summary below:
  • Caddo Parish, 88.37 acres: $9,000/acre, Questar
  • DeSoto Parish, 7.5 acres: $12,614/acre, Matador
  • Desoto Parish, 5.0 acres: $12,614/acre, Matador
  • Sabine Parish, 160 acres: $5,000/acre, Audubon Oil & Gas
  • Bienville Parish, 24 acres: $7,029/acre, Classic Petroleum
Back in December, the DeSoto Parish School Board sold leases through the Mineral Board for up to $18,500/acre.  The article cited implies that all of the DeSoto parcels went for $18,500, but looking at the DNR tract sheet, it looks like the range was $8,513 to $18,537.  All of the DeSoto acreage went to Classic Petroleum.

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