The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
Industry interest in SaskatchewanÕs oil and gas resources is so high that the province has just topped the billion-dollar mark for the first time ever for annual revenue from sale of Crown petroleum and natural gas rights. OctoberÕs sale, the third best on record, brought in $223.4 million in revenue for the province. The year-to-date revenue figure from land sales now stands at a record $1.07 billion, with one sale remaining in the year. This marks the third time this year that a land sale has exceeded $200 million in revenue. The top five land sales in SaskatchewanÕs history have been the five that have taken place in 2008. ÒOur oil and gas industry continues to exceed all expectations on its level of investment in our province,Ó Energy and Resources Minister Bill Boyd said. ÒThis land sale is the latest vote of confidence in SaskatchewanÕs strong business climate and our excellent resources. ÒThis tremendous response by industry will lead to high levels of oil and gas development activity in our province for years to come. And that means more jobs and more economic benefits for Saskatchewan people.Ó OctoberÕs sale featured 49 petroleum and natural gas exploration licenses that sold for $164.5 million and 344 lease parcels that brought in $58.9 million. The Weyburn-Estevan area again attracted the most bids with sales of over $191.7 million, reflecting the continuing strong interest in the Bakken play. The Swift Current area was next at $22.3 million, followed by the Kindersley-Kerrobert area at $6.6 million and the Lloydminster area at $2.8 million. The highest price paid for a single parcel was just under $33.9 million. Standard Land Company Inc. acquired this 1,554-hectare exploration licence of deeper rights, located 28 kilometres east of Estevan. The highest price on a per-hectare basis was a new record at $46,503. Pioneer Enviro Group Ltd. acquired this 65-hectare lease parcel of deeper rights 9 kilometres north of Forget in southeast Saskatchewan, for more than $3 million. The next sale of Crown petroleum and natural gas dispositions will be December 8, 2008.
