Anderson expands Yukon holdings

Gary Park

Anderson Exploration, already the largest landholder in Canada’s Mackenzie Delta-Beaufort Sea, is extending its quest to the Yukon, locking up about 250,000 acres of exploration rights.

Through a subsidiary, the Calgary-based independent was again the top bidder when the Yukon held its second rights offering since gaining control over its natural resources from the federal government in 1999.

The Yukon government announced March 21 it had accepted Anderson’s bid C$2.89 million for 65,000 acres of Eagle Plain, the only offered.

In 1999, Anderson paid C$20.4 million for two Eagle Plain blocks totaling 195,000 acres.

They are also close to the gas-rich Delta-Beaufort Sea region, where Anderson has assembled the largest land position, with 1.63 million acres.

The Yukon permits are for an initial six years, with the right to renew for another four years if a required exploratory well is drilled.

J.C. Anderson, president of Anderson Exploration, said he is confident Eagle Plain has the potential to generate sufficient natural gas accumulations to justify the development costs.