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For Immediate Release
October 15, 1998
October 1998 Lease Sales Announced by Mineral Board
The State Mineral Board conducted a Lease Sale October 14, 1998 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.
| NOMINATED | NOMINATED | LEASES | NO. OF | AMOUNT OF | |
| CLASSIFICATION | TRACTS | ACREAGE | AWARDED | ACRES | CASH PAYMENTS |
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Lease Sale October 14, 1998 |
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| State Offshore Leases | 15 | 11,446.560 | 8 | 3,035.590 | $1,918,717.99 |
| State Onshore Leases | 35 | 46,923.240 | 16 | 2,269.870 | 568,505.13 |
| State Dedicated Leases | 0 | 0.000 | 0 | 0.000 | 0.00 |
| State Agency Leases | 3 | 817.500 | 2 | 643.670 | 217,935.89 |
| TOTAL SALE | 53 | 59,187.300 | 26 | 5,949.130 | $2,705,159.01 |
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1998-99 Fiscal Year |
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| State Offshore Leases | 130 | 194,916.880 | 37 | 15,580.904 | $7,526,725.72 |
| State Onshore Leases | 160 | 119,872.031 | 67 | 10,970.501 | 3,055,328.23 |
| State Dedicated Leases | 40 | 54,758.810 | 3 | 1,114.710 | 560,576.77 |
| State Agency Leases | 27 | 7,552.109 | 12 | 1,403.392 | 974,672.20 |
| TOTAL YEAR TO DATE | 317 | 377,099.830 | 119 | 29,069.507 | $12,117,302.92 |
EDITORS: For more information on this topic, please contact Gus Rodemacher at 225-342-4607.