Saskatchewan oil land sales top $67 million
The December sale of petroleum and natural gas rights brought in $13.9 million in revenue, with the average price paid being $656 per hectare.
December saw the Weyburn-Estevan area receive the most bids with sales of $7.5 million. The Lloydminster area was next at $5.1 million, followed by the Kindersley-Kerrobert area at $1.2 million and the Swift Current area at $122,697.
The highest price paid for a single parcel was $908,448. Plunkett Resources Ltd. acquired the 259-hectare lease east of Estevan. The highest price on a per-hectare basis was $6,189. Scott Land & Lease Ltd. bid $801,459 for a 129.5-hectare lease south of Maidstone.
“Saskatchewan is now ranked as the number one jurisdiction in Canada for oil and gas investment policies,” said Energy and Resources Minister Tim McMillan.
Programs such as the Process Renewal and Infrastructure Management Enhancement (PRIME) program — a multi-year, multi-project initiative that is modernizing the ministry’s oil and gas business processes and computer systems — send a strong signal to industry that the province intends to remain one of the best places to invest, he added.
Saskatchewan remains on track to beat 2012 record in crude oil production, which was nearly 180 million barrels.
The next sale of Crown petroleum and natural gas dispositions will be held on February 3, 2014.
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