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April land sale generates $5.3 million

The April sale of petroleum and natural gas rights raised $5.3 million in revenue for the province, bringing 2015 land sale revenues after two sales to a total of $22.8 million. While April’s sale offered just 93 parcels, the upcoming June sale is featuring 177 parcels which compares favourably to the three-year average of 152 parcels per sale.

“It’s not surprising that land sales in western Canada would be affected by the dramatic drop in the price of oil, but responsible stewardship and sustainable development of Saskatchewan’s resources remain a priority for this government,” Economy Minister Bill Boyd said.

The April sale saw the Swift Current area receive the most bids with sales of $2.0 million. The Lloydminster area was next at $1.3 million, followed by the Weyburn-Estevan area at $1.1 million and the Kindersley-Kerrobert area at $893,060.

The highest price paid for a single parcel was $558,280. Prairie Land & Investment Services Ltd. acquired the 1,036-hectare lease north of Gull Lake. The highest price on a per-hectare basis was $6,312 and is shared by two parcels. Stomp Energy Ltd. submitted identical bids of $101,563 on two adjacent 16-hectare parcels located south of Stoughton.

“To further the province’s investment goals, Saskatchewan will host the oil and gas industry at the Williston Basin Petroleum Conference at Evraz Place in Regina later this month,” Boyd said. “The conference offers an international line-up of speakers who will cover topics including geology, crude oil transportation and the oil and gas supply chain. This event showcases an innovative, progressive industry that appreciates and understands the value of information sharing in our oil and gas community.”

The next sale of Crown petroleum and natural gas rights will be held on June 8, 2015.

via The Gull Lake ADVANCE http://ift.tt/1Iy6JZS

April land sale generates $5.3 million GULL LAKE Oil & Gas SouthWest Saskatchewan  Saskatchewan Land Sales

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