Alberta posts best land sale in 20 months - September 07, 2003

Providing coverage of Alaska and northern Canada's oil and gas industrySeptember 2003

Vol. 8, No. 36

Week of September 07, 2003

Alberta posts best land sale in 20 months

Gary Park, Petroleum News Calgary correspondent

Alberta has profited handsomely from its last two auctions of government-owned petroleum and natural gas rights, collecting C$113 million for 1.05 million acres.

The latest sale on Aug. 20 generated C$67.2 million, the first time Alberta has topped C$60 million since mid-December 2001 when it generated C$138.7 million.

So far this year, sales have pumped C$600.2 million into government coffers on the sale of 5.39 million acres, compared with C$346.5 million for 4.8 million acres at the same time last year. For all of 2002 Alberta sold 6.86 million acres for C$501 million.

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