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Another large land sale – March 20th Alberta Crown land sale totals over $59 MM – who are the big spenders? – BOE Intel

March 21, 202412:45 PM Dan Rutherford

The Alberta Government brought in more than $59 million on its March 20, 2024 Crown land sale. This big result follows up on another equally interesting land sale from two weeks ago that fetched more than $52 million.

To view all of the results from yesterday’s land sale, click here.

Perhaps the most fascinating part of yesterday’s land sale (and definitely the most expensive), was 57.5 sections (14,720 hectares) of mineral rights northwest of Red Deer and at the southeastern tip of the large Pembina field. These mineral rights were broken out into 4 parcels, which we have highlighted below in the table (Figure 1) and the BOE Intel map (Figure 2). In total, these parcels went for $46.8 MM, at an average price of $3,178/ha, or $813,656/section. Unsurprisingly, all parcels went to land brokers.

The zones listed cover a wide swath of mineral rights, including the Duvernay, which may be the targeted zone here.

Figure 1

Colour on map Bonus ($) Area (hectares) $/ha Area (sections) $/section
Green 15,616,013 3840 4067 15 1,041,068
Yellow 13,794,145 3392 4067 13.25 1,041,068
Pink 9,987,840 3840 2601 15 665,856
Blue 7,387,200 3648 2025 14.25 518,400
Total 46,785,198 14,720 3,178 57.5 813,656

 

Figure 2

While those 4 parcels represented more than three quarters of the total spend in the March 20, 2024 land sale, they did not represent the most expensive pieces of land based on a $/area basis. That honour belongs to this one section of prime Montney acreage (Figure 3) surrounded by Crescent Point’s (Veren’s?) acreage. The zones cover surface to basement mineral rights. That piece of land went for $5.325 million/section, or $20,801/ha. The buyer was a land broker by the name of Lacadena Land Company.

Figure 3

StackDX Intel Veren

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