August Land Sale Brings in $3.0 Million in Revenue
The August sale of petroleum and natural gas rights raised $3.0 million in revenue for the province, at an average price of $306 per hectare.
After four sales in 2015, land sale revenues total $35.7 million.
The August sale saw the Swift Current area receive the most bids with sales of $1.4 million. The Weyburn-Estevan area was next at $1.0 million, followed by the Kindersley-Kerrobert area at $420,580 and the Lloydminster area at $167,239.
The highest price paid for a single parcel was $373,270; Mammoth Land Services Ltd. acquired the 291-hectare lease north of Shaunavon. The highest price on a per-hectare basis was $3,192; Fire Sky Energy Inc. bid $103,333 for a 32.37-hectare lease southeast of Carnduff.
“Even during current oil prices, Saskatchewan offers the petroleum and natural gas industry one of the most attractive jurisdictions in Canada for long-term investment by conventional producers,” Economy Minister Bill Boyd said. “Our province’s diversified and opportunity-rich economy, along with our strong business-friendly operating environment, will help support continued growth and activity for our communities and industry stakeholders.”
Sales in Alberta and British Columbia have been similarly impacted this year as single-sale lows in British Columbia and Alberta raised $203,533 and $3.0 million respectively.
The next sale of Crown petroleum and natural gas rights will be held on October 6, 2015.