HOME PAGE SUBSCRIPTIONS, Print Editions, Newsletter PRODUCTS READ THE PETROLEUM NEWS ARCHIVE! ADVERTISING INFORMATION EVENTS PETROLEUM NEWS BAKKEN MINING NEWS

Providing coverage of Alaska and northern Canada's oil and gas industry
April 2006

Vol. 11, No. 14 Week of April 02, 2006

Alberta, B.C. oil and gas land sales make downturn in March

Alberta and British Columbia sagged to their lowest land sales of 2006 at mid-March auctions, but the results would have been warmly greeted in past years.

Alberta pocketed C$116 million from 171,826 hectares (424,582 acres) at an average C$676.47 per hectare, also the weakest average of the year to date.

In British Columbia, 28,299 hectares changed hands at a per-hectare average of C$718.16 for a total return of C$20.27 million.

The leading deal in Alberta was the almost C$16 million paid by Windfall Resources for 3,878 hectares on the Alberta-British Columbia border at Wapiti.

Oil sands bidders took their second successive break from the frenzied action which dominated earlier sales, with only Canadian Natural Resources making an acquisitions, paying a mere C$112,043 for 512 hectares.

With five sales completed, Alberta has tallied C$1.53 billion from 1.29 million hectares — far ahead of the same pace last year when C$345 million ended up in government coffers from the sale of 674,706 hectares.

British Columbia has tripled last year’s activities, with sales generating C$125 million for 168,414 hectares vs. C$43.4 million and 70,720 hectares over the same period of 2005.

—Gary Park






Petroleum News - Phone: 1-907 522-9469 - Fax: 1-907 522-9583
[email protected] --- http://www.petroleumnews.com ---
S U B S C R I B E

Copyright Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA)©2013 All rights reserved. The content of this article and web site may not be copied, replaced, distributed, published, displayed or transferred in any form or by any means except with the prior written permission of Petroleum Newspapers of Alaska, LLC (Petroleum News)(PNA). Copyright infringement is a violation of federal law subject to criminal and civil penalties.