Friday August 29, 2014

QUESTION OF THE WEEK

Survey results are meant for general information only, and are not based on recognised statistical methods.




Land sale generates $11 million

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Saskatchewan’s June sale of petroleum and natural gas rights generated $11 million in revenues.

This year's three land sales have fetched a total of $110 million.

“Industry continues to place a premium on Saskatchewan’s oil and gas rights, as land sales to date in 2014 have averaged $920 per hectare, compared to an average of $450 per hectare in Alberta,” Energy and Resources Minister Tim McMillan said. 

“Saskatchewan remains a top choice for industry to make significant investments in land acquisition, drilling activity, and service and supply expenditures.”

The June sale saw the Estevan-Weyburn area receive the most bids, with sales of $6.5 million. The Lloydminster area was next at $3 million, followed by Kindersley-Kerrobert at $916,852 and Swift Current at $628,353. 

The highest price paid for a single parcel was $1.2 million. Aldon Oils Ltd. acquired the 3,366 hectare exploration licence near Radville. The highest price on a per-hectare basis was $7,515. Scott Land & Lease Ltd. bid $486,630 for a 64.75 hectare lease east of Estevan.

The top work commitment bid for the oil shale special exploratory permit block on offer near Hudson Bay was $750,000 from Prairie Land & Investment Services Ltd.

Energy and Resources noted that in November of 2013, the Fraser Institute released the results of an international survey of petroleum executives that ranked Saskatchewan first among Canadian jurisdictions for oil and gas investment, and near the top globally. 

Saskatchewan rated particularly well in regards to policy, taxation regime and investment and regulatory climate.

The next sale of Crown petroleum and natural gas dispositions will be held on August 11.

 


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