Licence near Bromhead goes for $5.1 million

Regina– Crown land sales picked up in October, effectively doubling the amount brought in for this fiscal year so far.

The Oct. 6 Crown petroleum and natural gas rights sale raised $17 million.

This was by far the largest revenue among the four public offerings held to date in this fiscal year. At $376 per hectare, Saskatchewan’s average per-hectare price is the highest among western Canadian public offerings, indicating sustained interest being shown by the industry in the province’s petroleum and natural gas resources.

“Nothing has changed in Saskatchewan when it comes to our accessible resource base, our favourable operating environment and our transparent policy regime,” said Energy and Resources Minister Dustin Duncan. “This results in clear investment opportunities for the industry, and we continue our work to encourage and enable those opportunities in anticipation of future development.”

In this public offering, two exploration licences located west of Estevan received bonus bids totalling $6.9 million for 2,832.814 hectares. Millennium Land Ltd. was the successful bidder of these parcels that are prospective for multiple targets including the Midale and Frobisher Beds of the Madison Group, the Bakken Formation and the Three Forks Group/Torquay Formation.

Lloydminster area

The total bonus received in the area was $248,698, an average of $79.60/hectare. This compares to $381,757, an average of $134.76/hectare at the last offering.

The top purchaser of acreage in this area was NRG LandSolutions Inc. which spent $172,808 to acquire 11 lease parcels.

Top price paid for a single lease in this area was $42,207, paid by NRG LandSolutions lnc. for a 259-hectare parcel situated 25 kilometres east of the Unity South Viking and Sparky Sands Gas Pools, 10 kilometres southwest of Wilkie.

The highest dollar per hectare in this area was received from Windfall Resources Ltd. which paid $1,253/hectare for a 16.19 hectare parcel located within the Edam West Mannville Sands Oil Pools, 25 kilometres east of Maidstone.

Kindersley area

The total bonus received in the area was $3,271,423, an average of $167/hectare. This compares to $363,447, an average of$145/hectare at the last offering.

Top purchaser of acreage in this area was Synergy Land Services Ltd. which spent $1,393,686 to acquire five lease parcels and two exploration licences.

Top price paid for a single licence in this area was $874,731, paid by Synergy Land Services Ltd. for a 1,554-hectare parcel situated adjacent to the Forgan Viking Sand Oil Pool, 15 kilometres southeast of Elrose.

Top price paid for a single lease in this area was $156,759, paid by Scott Land & Lease Ltd. for a 194.25-hectare parcel situated within the Hoosier Bakken Sand Oil Pool, 30 kilometres northeast of Alsask.

The highest dollar per hectare in this area was received from Synergy Land Services Ltd. which paid $879/hectare for a 64.75 hectare parcel located adjacent to the Whiteside Viking Sand Oil Pool, 30 kilometres northeast of Alsask.

Swift Current area

The total bonus received in the area was $2,463,876, an average of $198/hectare. This compares to $371,693, an

average of $223/hectare at the last offering.

Top purchaser of acreage in this area was Millennium Land Ltd. who spent $498,045 to acquire five lease parcels.

Top price paid for a single licence in this area was $411,965, paid by Elk Run Resources Ltd. for a 3,108-hectare parcel situated partially within the Notukeu Upper Shaunavon Oil Pool, 20 kilometres north of the town of Shaunavon.

Top price paid for a single lease in this area was $161,741, paid by Metropolitan Resources Inc. for a 1,036-hectare parcel situated partially within the Leon Lake Lower Shaunavon Oil Pool, 15 kilometres northeast of Eastend.

The highest dollar per hectare in this area was received from Millennium Land Ltd. which paid $516/hectare for each of three 259-hectare parcels located adjacent to the Rapdan Upper Shaunavon Oil Pool, 30 kilometres southeast of Eastend.

Estevan Weyburn area

The total bonus received in the area was $11,245,453, an average of$876/hectare. This compares to $8,863,243, an average of $771/hectare at the last offering.

Top purchaser of acreage in this area was Millennium Land Ltd. who spent $9,298,879 to acquire seven lease parcels and two exploration licences.

The top price paid for a single licence was $5,166,059, paid by Millennium Land Ltd. for a 2,007.25 hectare parcel situated adjacent to the Bromhead Midale Beds Oil Pool, 35 kilometres west of Estevan.

Top price paid for a single lease was $397,565, paid by Millennium Land Ltd. for each of five 259 hectare parcels situated adjacent to the Elswick Midale Beds Oil Pool, 50 kilometres northwest of Estevan.

The highest dollar per hectare in the offering was received from Synergy Land Services Ltd. who paid $3,151/hectare for a 32.38-hectare parcel located within the Steelman Midale and Frobisher Beds Oil Pools, 35 kilometres northeast of Estevan.

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