Caddo Schools Get $94k On Energy Lease
POSTED: 3:45 pm CDT September 9, 2010UPDATED: 4:05 pm CDT September 9, 2010BATON ROUGE -- The Caddo Parish school system will receive a $94,086 cash bonus from leasing 15 acres of land for oil and gas exploration, the state Mineral and Energy Board said after its monthly lease sale on Wednesday. The school system leased 15 acres near Summerfield Elementary to Paramount Energy, the mineral board said. The energy company paid just over $6,000 an acre with a 25 percent royalty. The money will be used to pay for a truancy program. There was no bid on another 32-acre tract in Caddo Parish. There also were no bids on 110 acres that Northwestern State University owns near the DeSoto-Natchitoches Parish line, the mineral board said.
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