The latest sale of petroleum and natural gas rights has netted a much lower return than the previous sale earlier this year.
According to numbers released by the province Thursday the April sale raised $5.3 million in revenue for the province, and brings 2015 land sale revenues after two sales to a total of $22.8 million.
April’s sale offered only 93 parcels, though the province pointed out the upcoming sale on June 8 will offer 177 parcels, which compares to the three-year average of 152 parcels per sale.
In the April sale the Swift Current area saw sales of $2 million, with Lloydminster at $1.3 million, the Weyburn-Estevan area at $1.1 million and the Kindersley-Kerrobert area at $893,060.
The highest price paid for a single parcel was $558,280, paid by Prairie Land & Investment Services Ltd. who acquired a 1,036 hectare lease north of Gull Lake. The highest price on a per-hectare basis was $6,312 and is shared by two parcels, with Stomp Energy Ltd. submitting bids of $101,563 on two adjacent 16-hectare parcels south of Stoughton.
In a statement, Minister of the Economy Bill Boyd acknowledged that the continued oil slump had an impact.
“It’s not surprising that land sales in western Canada would be affected by the dramatic drop in the price of oil, but responsible stewardship and sustainable development of Saskatchewan’s resources remain a priority for this government,” Boyd said.
Boyd is looking ahead to the province hosting the Williston Basin Petroleum Conference at Evraz Place in Regina later this month, an event touted as including “an international line-up of speakers” on topics such as geology, crude oil transportation and the oil and gas supply chain.
“This event showcases an innovative, progressive industry that appreciates and understands the value of information sharing in our oil and gas community,” Boyd said.
