Southwest repeats $1.1 million total in October land sale

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For the second sale in a row the Swift Current area recorded $1.1 million in activity during the Saskatchewan petroleum and natural gas rights sale.

In the Swift Current region a total of $1.1 million in interest was shown during the October sale, third best in the province, while increasing the region's year to date totals to $4.64 million. The Feb. 2013 sale was the best this year at $1.3 million, while the June 2013 sale was this year's lowest at only $139,326.

Province wide, the sale generated $9.1 million in activity during the second quietest sale of the year, well behind the year high $15.1 million sale recorded in August.

The Weyburn-Estevan area continues to do the heavy lifting in generating activity, recording $5.0 million in sales. The Lloydminster region realized $2.0 million in interest, followed by the Swift Current area at $1.1 million which was slightly higher than the $1.0 million generated in the Kindersley-Kerrobert region.

Of the $53.3 million in activity during Saskatchewan's petroleum and natural gas rights in 2013, the Weyburn-Estevan area has generated $32.7 million of that total, followed by the Lloydminster area $11.1 million, Kindersley-Kerrobert is third at $4.93 million, while Swift Current and area has contributed $4.64 million in activity.

“There has been a shift in focus by industry from purchasing dispositions to drilling those purchases in order to bring them into production,” Energy and Resources Minister Tim McMillan said stated in a press release. “However, land sales have remained stable, averaging $11 million per sale over the past year, with both Alberta and British Columbia experiencing similar trends in land sale activity.”

“It’s worth noting that oil production is currently 3.0 per cent higher than last year, which itself was a record year,” McMillan said. “This confirms that industry continues to invest with confidence in Saskatchewan.”

Geographic location: Swift Current, Saskatchewan

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