Land Sale Nets Close to $14M in Revenue

It’s been a successful month for sales of Crown oil and gas rights in Saskatchewan.

Over $122,000 of land was sold in the Swift Current area during the December sale, and although it was a quiet month locally, it contributed to a strong sale for the province as a whole.

“We look at the numbers we’re getting and the value per acre that our land goes for, it’s a substantially higher price per acre than what Alberta gets. That’s somewhat reflective of the Fraser Institute on a yearly basis puts out a report as to the best jurisdiction to produce oil and gas and this Saskatchewan this year ranked number one,” said Energy and Resources Minister Tim McMillan.

The sale brought in a total of $13.9 million in revenue for the province, with the average price per hectare being $656.

“We saw interest across the province. In the Swift Current area we had land sales totalling $123,000 roughly, it’s important that we continue to see these sales at a level that they are,” said McMillan.

The December sale saw the Weyburn-Estevan area recieve the most bids with sales of $7.5 million, Lloydminster area was next with $5.1 million and the Kindersley area at $1.2 million.

McMillan says that the government is happy with the numbers they have seen and that they are improving from last year.

“I think that overall, at almost 14 million dollars worth of land sale, we think that’s a healthy number. In our province to date we had a record oil production year last year. This year we’re producing ahead of where we were last year so we are likely to break that record here in 2013,” said McMillan.

The next sale will be held in February.

via Local News

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