REGINA -
DW-Land Sale
Southeast leads the way for latest land sale
The Government of Saskatchewan's latest Crown oil and natural gas public offering, held on Oct. 29, raised $7,304,936 for the province, with the southeast region generating the majority of the revenue.
Of the 112 parcels posted for this offering, 93 received acceptable bids, covering a total of 15,347.639 hectares.
The southeast brought in $5,417,916. Fifty-six leases encompassing 6,012.494 hectares were sold for $5,010,245, or $833.31 per hectare. Sixty-seven leases were available.
One licence for 2,318.023 hectares was sold for $407,670, or $175.87 per hectare.
The highest bonus bid and dollars per hectare received on a lease in this offering was $1,369,276, an average of $5,284.76 per hectare. This 259.099-hectare lease was awarded to Surge Energy Inc. and is located nine kilometres northeast of Macoun, within the Bryant Frobisher Beds Oil Pool.
The licence was sold for $175.87 per hectare. It is located four kilometres south of Minton, and was awarded to Millennium Land (444) Ltd.
The Kindersley area fetched $1,325,636 for 21 leases encompassing 5,063.604 hectares, an average of $261.80/hectare. Twenty-two leases were available.
The highest bonus bid and the highest dollars per hectare received on a lease in this area was $288,689.02, an average of $1,105.69 per hectare. This 261.094-hectare lease was awarded to Durham Creek Energy Ltd. and is located five kilometres west of Dodsland, within the Plenty Viking Sand Oil pool.
The total bonus received in the Lloydminster area was $559,269 for eight parcels encompassing 1,369.226 hectares, for an average sale price of $408.46 per hectare. Eleven leases were available.
The highest bonus bid and the highest dollars per hectare received on a lease in this area was $284,646.84, an average of $1,100.88 per hectare. This 258.56-hectare lease was awarded to Evergo Resources Ltd. and is located 13 kilometres southwest of Turtleford, within the Standard Hill Waseca Sand Oil Pool.
The highest dollars per hectare received on a lease in this area was $1,548.88 per hectare, or a total of $25,025.25. This 16.157-hectare lease was awarded to Synergy Land Services Ltd. and is located 14 kilometres northeast of Maidstone, within the Dee Valley East Mannville Sands Oil Pool.
The total bonus received in Swift Current area was $2,115.14 for seven parcels encompassing 584.292 hectares, an average of $3.62/hectare. Eleven leases were posted.
The highest bonus bid received in this area was $703.97, or $3.62 per hectare. This 194.466-hectare lease was awarded to Canadian Natural Resources Limited and is located 25 kilometres northeast of Maple Creek.
These parcels that received bids of $3.62/hectare included only those shallow rights from the Surface to Top Milk River Formation. All seven parcels sold in this area were acquired by Canadian Natural Resources Limited.
There are six scheduled public offerings of oil and natural gas dispositions held each fiscal year in Saskatchewan. After four public offerings this fiscal year, the provincial government has raised $37,382,523.18 in revenue. The next offering is scheduled for Dec. 3.
