Tag Archives: Land Sales

Public Offering of Petroleum and Natural Gas Rights for December Raises $14 Million | News and Media | Government of Saskatchewan

December’s public offering of Saskatchewan’s Crown petroleum and natural gas rights on Tuesday raised $14 million in revenue for the province, bringing the total for the fiscal year to date to $48 million with one sale remaining.

This is the second-largest revenue for a single public offering so far in the 2016-17 fiscal year, and the current total has now exceeded the amount of $43 million for the previous fiscal year.

“This increased investment shows that the petroleum industry continues to recognize the opportunities that exist in Saskatchewan,” Energy and Resources Minister Dustin Duncan said.  “More oil wells were drilled in Saskatchewan in the first 11 months of 2016 than in Alberta, an indicator that our province is setting the pace in Canada in terms of both industry activity and policy attractiveness.”

Tuesday’s public offering occurred on the same day that the Fraser Institute released its 10th annual global survey on barriers to investment in oil and gas exploration and production facilities.  According to the 2016 survey, international petroleum industry executives and managers now rank Saskatchewan as the fourth most attractive jurisdiction for investment in the world, rising from seventh place, and number one in Canada, while Alberta fell 18 spots in the world rankings to 43rd.

One exploration licence and two leases located west of Estevan received bonus bids in Tuesday’s public offering, totalling $7.6 million for 1,554 hectares.  Stomp Energy Ltd. was the successful bidder of these parcels that are prospective for multiple targets, including the Midale and Frobisher Beds of the Madison Group, the Bakken Formation, the Three Forks Group/Torquay Formation and the Red River Formation.

The next public offering of petroleum and natural gas rights will be held on February 7, 2017.

Source: Public Offering of Petroleum and Natural Gas Rights for December Raises $14 Million | News and Media | Government of Saskatchewan

Land sale nets $5M, brings total to $44M in fiscal 2015-16

“Oil prices continue to have an impact on activity across western Canada, as industry exercises caution in increasing their land inventories,” Economy Minister Bill Boyd said in a press release. “At the same time, Saskatchewan lands are at a premium, reflecting our reputation as the top jurisdiction in Canada, and among the top 10 in the world, for petroleum investment attractiveness. ”Land sale nets $5M, brings total to $44M in fiscal 2015-16 Oil & Gas  Saskatchewan Land Sales

via Regina Leader-Post http://ift.tt/1P9XuAo

New Laws for Farmland Ownership Proclaimed

Amendments to The Saskatchewan Farm Security Act, clarifying who can and cannot own farmland in Saskatchewan, have been proclaimed and will come into effect on January 4, 2016.

“The people of Saskatchewan provided very clear direction during the consultation process,” Agriculture Minister Lyle Stewart said.  “The legislation reflects the views of Saskatchewan residents, provides clarity around farmland ownership and gives the Farm Land Security Board the tools it needs to enforce the rules.”

The amendments include:

  • Making pension plans, administrators of pension fund assets and larger trusts ineligible to buy farmland;
  • Defining “having an interest in farmland” to include any type of interest or benefit (i.e. capital appreciation), either directly or indirectly, that is normally associated with ownership of the land; and
  • When financing a purchase of farmland, all financing must be through a financial institution registered to do business in Canada, or a Canadian citizen.

Non-Canadian citizens can still own up to 10 acres of farmland, and exemptions can still be granted for economic development initiatives.  These rules were in place previously and will not change.

In addition, the Farm Land Security Board (FLSB) will receive new and expanded authority to enforce the legislation, including:

  • At the discretion of the FLSB, any person purchasing farmland must complete a statutory declaration;
  • Placing the onus to prove compliance with the legislation on the person purchasing the land;
  • Increasing fines for being in contravention of the legislation from $10,000 to $50,000 for individuals and from $100,000 to $500,000 for corporations; and
  • Authorizing the FLSB to impose administrative penalties to a maximum of $10,000.

The amendments put into law the regulations announced in April.

The Ministry of Agriculture conducted consultations on farmland ownership from May 20 through to August 10, with more than 3,200 people participating.

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For more information, contact:

Sarah Hein
Agriculture
Regina
Phone: 306-787-5389
Email: sarah.hein@gov.sk.ca
Cell: 306-527-9102

Via: Government of Saskatchewan

December Land Sale Generates $10.9 Million

Released on December 3, 2015

Saskatchewan’s December sale of petroleum and natural gas rights raised $10.9 million in revenue for the province at an average price of $685 per hectare, bringing the calendar year total for 2015 in land sale revenues to $56.5 million.

The sale results come in the wake of the Fraser Institute’s annual Global Petroleum Survey of petroleum executives, where once again Saskatchewan ranked number one in Canada and among the top ten worldwide in the rankings of attractive jurisdictions for investment in petroleum exploration and development.

“While land sale activity has been relatively subdued, we continue to rank as a top destination for investment dollars,” Economy Minister Bill Boyd said.  “With an operating environment rich in opportunity and friendly to business, Saskatchewan is positioned for the world market to catch up to us, and not the other way around.”

Saskatchewan rated highly in the 2015 survey relative to other jurisdictions in regards to policy, investment and regulatory climate, geopolitical risk, administrative certainty, labour regulations and employment agreements, environmental regulations, trade barriers, taxation regime and quality of its geological database.

The December sale saw the Lloydminster area receive the most bids with sales of $4.8 million.  The Weyburn-Estevan area was next at $2.92 million, followed by the Kindersley-Kerrobert area at $2.91 million and the Swift Current area at $254,187.

The highest price paid for a single parcel was $2,550,082.  Windfall Resources Ltd. acquired the 547-hectare lease southwest of Pierceland.  The highest price on a per-hectare basis was $6,382.

Mammoth Land Services Ltd. submitted identical bids of $206,593 on two separate but adjacent 32.37-hectare leases east of Estevan.

The next sale of Crown petroleum and natural gas rights will be held on February 2, 2016.

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For more information, contact:

Deb Young
Economy
Regina
Phone: 306-787-4765
Email: deb.young@gov.sk.ca

Via: Government of Saskatchewan

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