Released on August 16, 2012
The August sale of Crown petroleum and natural gas rights has brought in almost $23.3 million in revenue for the province.
With these latest results, total land sale revenues for the 2012 calendar year now stand at $78.9 million.
Minister responsible for Energy and Resources Tim McMillan said that August's sale not only provided a healthy return for the province, but also reflected the strong, ongoing interest by the industry in Saskatchewan's oil patch.
"Saskatchewan offers a competitive, attractive environment for exploration and development and companies are placing a premium on our oil and gas resources," McMillan said. "That's reflected in the average dollars per hectare received in these sales, and so far in 2012 our average dollars per hectare price is tracking well ahead of that of the country's other major oil producer, Alberta."
August's sale included 237 lease parcels that brought in $22.9 million in bonus bids and two petroleum and natural gas exploration licences that sold for $366,109.
The Weyburn-Estevan area received the most bids with sales of $10 million. The Swift Current area was next at $6 million, followed by the Lloydminster area at $5.5 million and the Kindersley-Kerrobert area at $1.7 million.
The highest price for a single parcel was $2.4 million. Standard Land Company Inc. acquired this 1,036-hectare lease southeast of Gull Lake.
The highest price on a per-hectare basis was $11,151. Ranger Land Services Ltd. bid $180,533 for a 16-hectare lease parcel northeast of Turtleford.
A special exploratory permit block on offer southwest of Assiniboia received a work commitment bid of $492,166 from Standard Land Company Inc.
The next sale of Crown petroleum and natural gas dispositions will be held on October 1, 2012.
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For more information, contact:
Bob Ellis
Economy
Regina
Phone: 306-787-1691
Email: robert.ellis@gov.sk.ca