Tuesday, December 21, 2010

Louisiana Lease Auction Results

The Louisiana Mineral Board held a relatively uneventful monthly lease auction last week - uneventful, at least, from the perspective of the Haynesville Shale.  Only 85 acres were leased in the sale, half in Sabine Parish, half in Bienville Parish.  Two of the smaller parcels were in sections that are not currently subject to a unit but are nearby other units.  A few larger lease parcels in Caddo and DeSoto did not receive bids and two of the other parcels in Sabine (S25,30/T9/R10,11 and S28/T9/R11) were held back because the winning bids ($3,500/acre bonus) were rejected as insufficient.

The average bonus was $5,452, but the weighted average was $6,788, as shown below.  All of the winning bids

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