The February sale of petroleum and natural gas rights raised $17.5 million in revenue for the province, bringing total land sale revenues for the 2014-15 fiscal year to $164.7 million.
The 2014-15 March budget forecast $99 million in land sale revenue. The final total for the fiscal year has exceeded the forecast by $66 million.
“Robust sales in April and August of last year accounted for the increase in land sale revenues over the initial forecast,” Economy Minister Bill Boyd said. “Saskatchewan remains one of the best places for oil and gas companies to invest. The sector will continue to play a part in our diversified economy in 2015.”
The February sale saw the Weyburn-Estevan area receive the most bids with sales of $8.3 million. The Lloydminster area was next at $5.3 million, followed by the Swift Current area at $3.2 million and the Kindersley-Kerrobert area at $694,039.
The highest price paid for a single parcel was $3.5 million. Windfall Resources Ltd. acquired the 1,036-hectare lease east of St. Walburg. The highest price on a per-hectare basis was $8,586. STOMP Energy Ltd. bid $1.1 million for a 126.6-hectare lease southeast of Estevan.
The next sale of Crown petroleum and natural gas rights will be held on April 6, 2015.
