Monday, March 14, 2011

LA Lease Auction: Average Haynesville Area Bonus $8,297

The Louisiana Mineral Board held its monthly lease sale at the end of last week.  While the big news coming out of the sale was that the state cleared $11.5 million, the vast majority of the properties receiving bids were in south Louisiana and are more targeted for oil. The state released minerals under the Rockefeller Wildlife Refuge and the Loggy Bayou Wildlife Management Area.  Interestingly, many of the tracts received no bids.

In the Haynesville area of north Louisiana, only five parcels were out for bid and only two in DeSoto Parish received bids, and each only received one bid.  The average bonus was $8,297, but weighted by size of the parcel, the average bonus came in at $8,711.

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