Alberta land sales surpass C$700 million mark - August 29, 2004

Providing coverage of Alaska and northern Canada's oil and gas industryAugust 2004

Vol. 9, No. 35

Week of August 29, 2004

Alberta land sales surpass C$700 million mark

Gary Park

Alberta continues to enjoy a land sales bonanza in 2004, reaching almost C$707 million from auctions of petroleum, natural gas and oil sands rights, compared with C$533 million at the same time in 2003.

The Aug. 18 sale generated C$39 million from almost 365,000 acres. The top bid went to broker Township Land, which paid C$763,788 for 5,700 acres at an average C$134 per acre, compared with the auction average of C$107 per acre.

To date this year, bidders have accumulated 5.09 million acres, up from last year’s 4.89 million acres, with average per acre values climbing by 27 percent.

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