The Southwest moved into the top two for the first time in almost a year during the August sale of Crown petroleum and natural gas rights.
The Swift Current/Shaunavon region generated $6 million in activity to record a second best showing among the four main oil producing regions in the province. The highest price for a single parcel was $2.4 million paid by Standard Land Company Inc. to acquire a 1,036-hectare lease southeast of Gull Lake.
The Southwest last topped the $6 million interest level during the April 2011 sale when $56.6 million in activity was recorded in the region.
Province wide the August land sale generated almost $23.3 million in activity. The Weyburn-Esteven region topped the province with $10 million in activity, followed by the Swift Current area at $6 million. The Lloydminster area was a close third and $5.5 million, while the Kindersley-Kerrobert region was fourth in the province at $1.7 million.
August's sale included 237 lease parcels that brought in $22.9 million in bonus bids and two petroleum and natural gas exploration licences that sold for $366,109.
During 2012, the year to date land sale revenues are now at $78.9 million.
"Saskatchewan offers a competitive, attractive environment for exploration and development and companies are placing a premium on our oil and gas resources," Minister responsible for Energy and Resources Tim McMillan said. "That's reflected in the average dollars per hectare received in these sales, and so far in 2012 our average dollars per hectare price is tracking well ahead of that of the country's other major oil producer, Alberta."
A special exploratory permit block on offer southwest of Assiniboia received a work commitment bid of $492,166 from Standard Land Company Inc.
The next sale of Crown petroleum and natural gas dispositions will be held on October 1.
