News Release
STATE MINERAL BOARD HOLDS APRIL LEASE SALE MEETING
April 16, 1999
The State Mineral Board conducted a Lease Sale April 14, 1999 at 10:00 a.m. in the Mineral Board Hearing Room located in the State Land and Natural Resources Building in Baton Rouge. Below are the preliminary results of the Lease Sale and 1998-99 Fiscal Year totals. According to Mineral Board Secretary Gus Rodemacher, last fiscal year's lease sale monthly average was $4,183,387 as compared to $1,997,804 this fiscal year.
In other Board matters, officials with Texaco, Inc. provided a semi-annual report on the Global Settlement Agreement including a summary of its spending obligation set forth in the Economic Expansion Program of the agreement. Between 1994 and 1999, Texaco spent $152.2 million as required for drilling, 3D seismic and other development under the terms of the program.
Lease Sale April 15, 1999
| CLASSIFICATION | NOMINATED TRACTS | NOMINATED ACREAGE | LEASES AWARDED | NO. OF ACRES | AMOUNT OF CASH PAYMENTS |
| State Offshore Leases |
22
|
35,725.360
|
6
|
1,389.790
|
$263,856.24
|
| State Onshore Leases |
42
|
49,925.950
|
17
|
4,898.593
|
826,368.55
|
| State Dedicated Leases |
0
|
0.000
|
0
|
0.000
|
0.00
|
| State Agency Leases |
4
|
114.778
|
1
|
34.640
|
96,992.00
|
| TOTAL SALE |
68
|
85,766.088
|
24
|
6,323.023
|
$1,187,216.79
|
1998-99 Fiscal Year
| State Offshore Leases |
197
|
289,738.420
|
57
|
21,225.254
|
$8,612,940.19
|
| State Onshore Leases |
440
|
403,012.205
|
166
|
33,383.678
|
8,653,302.31
|
| State Dedicated Leases |
42
|
56,775.810
|
3
|
1,114.710
|
560,576.77
|
| State Agency Leases |
60
|
14,640.256
|
24
|
1,820.831
|
1,251,576.79
|
| TOTAL YEAR TO DATE |
739
|
764,166.691
|
250
|
57,544.473
|
$19,078,396.06
|
Editors: For more information on this meeting, contact the DNR Office of Mineral Resources, Gus Rodemacher at 225-342-4607 or Rick Heck at 225-342-6122.