Consistent if unexciting results continue to pile up in Saskatchewan’s oil and gas drilling rights auctions.
The latest sale last week resulted in a $28.7 million contribution to the province’s treasury, taking revenues for the 2011-12 fiscal year to $234.1 million.
“This was another solid land sale for the province and a very good start to the year,” said Energy and Resources Minister Bill Boyd in a news release, adding it’s not all about the Bakken and Lower Shaunavon formations.
“Saskatchewan is coming off its second-best year for oil well drilling. The signs are pointing to a great year ahead for our industry.”
The February sale included 182 parcels, with the biggest bids reserved for the Weyburn-Estevan area. The highest price for a single parcel was $1.8 million for a 259-hectare lease northeast of Eston. The highest price on a per-hectare basis was $10,405 for a 16-hectare lease parcel south of Lashburn.
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