Land slide in Canada

Government sales of exploration lands, the clearest sign of industry confidence, have taken a dive in Canada this year.

Total returns in Alberta yielded C$161.6 million in the first half of 2015, off 32 percent from the same period of 2014, while Saskatchewan slumped to C$32.65 million from C$100.6 million, and British Columbia crumbled to C$8.1 million from seven bidding rounds, just 9 percent of the C$92.9 million raised in the first half of 2014.

In the latest bidding round in Alberta, a leading buyer was broker Stomp Energy, which paid C$621,220 for 380,000 acres in the northern region on behalf of an unidentified client, while Husky Oil spent C$628,883 for 633 acres, also in the northern region.

Overall, the July 8 sale raised C$13.2 million on the sale of 227,213 acres.

Broker Land Solutions paid the highest average price for a parcel at $1.6 million for 62 acres, again in northern Alberta.

- GARY PARK