First land sale of 2013 nets nearly $12 million
(AP / Sue Ogrocki)
Published Thursday, February 7, 2013 10:53AM CST
Saskatchewan’s first sale of oil and natural gas rights in 2013 was a gusher, pumping nearly $12 million in revenue into provincial coffers.
This month’s sale included 104 lease parcels that attracted $11.8 million in bonus bids and two exploration licenses that sold for $125,000. That brings the current fiscal year total to $88.9 million.
While interest in the prolific Bakken oil play in southeastern Saskatchewan remained strong, it was the Lloydminster area that received the most bids at $5.9 million.
The Weyburn and Estevan area had $3.7 million in sales, while the Swift Current area posted a total of $1.3 million. The Kindersley and Kerrobert area was fourth at $1 million.
Ranger Land Services Ltd. paid the highest price for a single parcel after shelling out $967,555 for a 210-hectare lease north of Lloydminster.
The highest price on a per-hectare basis was $10,265, paid by Plunkett Resources Ltd. for a 32-hectare lease south of Weyburn.
The next Crown land sale will be held on April 8.