SHREVEPORT, LA (AP) - Cypress Energy Corp. won mineral rights to 478 acres in Shreveport at a lease sale in Baton Rouge.
The city expects to collect $4.1 million from the sale.
The company offered $8,700 per acre and a 25 percent royalty rate for any minerals extracted.
The leases were up for auction Wednesday by the state Mineral Board, according to The Times of Shreveport.
Information from: The Times, http://www.shreveporttimes.com (Copyright 2009 by The Associated Press. All Rights Reserved.) AP-NY-10-15-09 0832EDT