Thursday, July 10, 2008

Caddo Parish gets $17,600,000 & 30% royalty from Haynesville Shale Lease

Petrohawk Energy paid $28,700,000 to the DeSoto Parish Police Jury. Caddo Parish leased 585 acres and got $17,600,000 and DeSoto leased 1,045 acres. If the wells produce, Caddo Parish will get a 30% royalty and DeSoto will get 27.5%.
Even if it is not producing, each parish will get millions each year in rental fees.

More details in The Times

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