Released on June 9, 2011
The June sale of petroleum and natural gas rights brought in $40.9 million in revenue, making it the third best on record for a June sale. Land sale revenue for the 2011 calendar year now stands at $193 million.
"This sale marks a record 11 consecutive land sales that have surpassed the $30 million mark," Energy and Resources Minister Bill Boyd said. "This sustained interest from industry is very positive. It tells us industry sees a stable, long-term future in Saskatchewan's oil patch. It's also a vote of confidence in the province's overall business climate.
"It's always exciting to watch the action when prime Bakken and Shaunavon parcels are posted, and this sale was no exception. I was also pleased to see that all corners of the oil patch continue to contribute to the sale, from St. Walburg in the north to Consul in the southwest to Storthoaks in the southeast and points in between."
June's sale included eight petroleum and natural gas exploration licences that sold for $3.5 million and 260 lease parcels that attracted $37.4 million in bonus bids.
The Weyburn-Estevan area received the most bids with sales of $21.5 million. The Lloydminster area was next at $7.9 million, followed by the Kindersley-Kerrobert area at $6.1 million and the Swift Current area at $5.4 million.
The highest price for a single parcel was $3.7 million. Prairie Land & Investment Services Ltd. Acquired this 62.28-hectare lease parcel near Stoughton. This parcel also had the highest price on a per-hectare basis of $60,302.
The next sale of Crown petroleum and natural gas dispositions will be held on August 8, 2011.
-30-
For more information, contact:
Bob Ellis
Energy and Resources
Regina
Phone: 306-787-1691
Email: robert.ellis@gov.sk.ca