Released on October 9, 2014
With $21.6 million in revenue raised at Saskatchewan’s October sale of petroleum and natural gas rights, total for the 2014 land sales are $179.6 million with one sale remaining.Twenty-nine leases and two exploration licences located between Carnduff in the south and Moosomin to the north along the Manitoba border raised $10.4 million. This area is prospective for several targets, including the Jurassic, Mississippian and Devonian.
“Industry has been developing the Bakken-Three Forks play quite extensively on either side of the Saskatchewan-Manitoba border for several years now, and the ongoing acquisition of oil and gas rights in that area bodes well for future economic activity in local communities,” Economy Minister Bill Boyd said.
The October sale saw the Weyburn-Estevan area receive the most bids with sales of $14.4 million. The Kindersley-Kerrobert area was next at $4.0 million, followed by the Lloydminster area at $3.0 million, and the Swift Current area at $115,086. The highest price paid for a single parcel was $3.5 million. Plunkett Resources Ltd. acquired the 1,554-hectare exploration licence south of Moosomin. The highest price on a per-hectare basis was $27,367. Petroland Services (1986) Ltd. bid $20,799 for a 0.76-hectare lease southeast of Estevan.
The next sale of Crown petroleum and natural gas rights will be held on December 1, 2014.
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For more information, contact:
Deb Young
Economy
Regina
Phone: 306-787-4765
Email: deb.young@gov.sk.ca