Released on December 5, 2002
Interest in Saskatchewan's rich oil and gas resources remains high, withland sales topping $100 million this year.
The December sale of Crown petroleum and natural gas rights generated $16.7
million, bringing the total for 2002 to $102.9 million. This is the first
time that the calendar year revenues have surpassed $100 million in five
years.
"The oil and gas industry continues to make considerable investment in the
province, creating prosperity for communities and jobs for Saskatchewan
people," Industry and Resources Minister Eldon Lautermilch said.
The sale included a record high 51 exploration licences that sold for $10.4
million and 173 lease parcels that sold for $6.3 million.
The highest price received for a single parcel was $2,109,291. Scott Land
& Lease Ltd. purchased this 25½-section exploration licence, located 22
kilometres southwest of Hazlet in the Swift Current area.
The highest price on a per-hectare basis was $1,314. Scott Land & Lease
Ltd. also purchased this 32-hectare parcel, located within the Wordsworth
Frobisher-Alida Beds Pool near Arcola, for $42,008.
The Kindersley-Kerrobert area received the most bonus bid activity with
sales totalling $9.6 million. The Lloydminster area was next at $3.2
million, followed closely by the Swift Current area at $3 million. The
Weyburn-Estevan area rounded out the sale at approximately $870,000.
The next sale of Crown petroleum and natural gas dispositions will be
February 11th, 2003.
-30-
For more information, contact:
Ed Dancsok, Director
Geology and Petroleum Lands Branch
Saskatchewan Industry and Resources
Regina
Phone: (306) 787-2602