News Release
State Mineral Board Releases August Figures
For Release
August 21, 2003
Members of the Louisiana Mineral Board elected new officers for the upcoming year at its August meeting. David "Hal" Stiel, III of Franklin was named chairman of the state Mineral Board and Tom Arnold, Jr. of Harvey was elected vice-chairman. Stiel was appointed to the Mineral Board in 1996 while Arnold was appointed in 1997 by Governor Foster.
In addition, the State Mineral Board conducted its lease sale, at 10 a.m. in the Conservation & Mineral Resources Hearing Room located in the LaSalle Office Building in Baton Rouge. Below are the preliminary results of the Lease Sale and 2003-2004 Fiscal Year totals.
| CLASSIFICATION | NOMINATED TRACTS |
NOMINATED ACREAGE |
LEASES AWARDED |
NO. OF ACRES |
AMOUNT OF CASH PAYMENTS |
|---|---|---|---|---|---|
|
Lease Sale August 13, 2003 |
|||||
| State Offshore Leases | 12 | 20,607.200 | 5 | 2,030.940 | $398,787.10 |
| State Onshore Leases | 7 | 6,250.170 | 6 | 937.000 | 191,711.72 |
| State Dedicated Leases | 0 | 0.000 | 0 | 0.000 | 0.00 |
| State Agency Leases | 1 | 117.590 | 1 | 117.590 | 24,223.54 |
| TOTAL SALE | 20 | 26,974.960 | 12 | 3,085.53 | $614,422.36 |
| 2003-2004 Fiscal Year | |||||
| State Offshore Leases | 33 | 58,817.550 | 12 | 4,474.540 | $1,020,869.10 |
| State Onshore Leases | 39 | 31,144.150 | 17 | 2,067.690 | 415,169.77 |
| State Dedicated Leases | 3 | 774.220 | 1 | 497.170 | 50,711.34 |
| State Agency Leases | 2 | 136.220 | 1 | 117.590 | 24,223.54 |
| TOTAL YEAR TO DATE | 77 | 90,872.140 | 31 | 7,156.990 | $1,510,973.75 |