Crown petroleum and natural gas rights sales raised a total of $10.2 million dollars for the province in February.
Two parcels consisting of 64.7 hectares each generated the top dollars per hectare in this public offering; located northeast of Stoughton, they were purchased by Synergy Land Services Ltd. for roughly $3,200 per hectare and are prospective for oil in the Bakken Formation. The average price per hectare was $596 for this period, up from $316 in 2017-18.
Two exploration licences in the Estevan area were purchased for over $900,000. One licence, worth nearly $850,000, was located northeast of Estevan, and purchased by BASM Land & Resources Ltd. The other exploration licence, north of Gainsborough, was purchased by Burgess Creek Exploration Inc. for $60,389.09.
This was the sixth and final offering of the 2018-19 fiscal year, bringing the cumulative total to $57.5 million.