The Alberta Government brought in $16.1 million on its May 1, 2024 Crown land sale.
The largest bonus was $4.8 MM for 12.25 sections (3,136 hectares) of mineral rights south of Rocky Mountain House. The price per area metrics for that parcel were $393,392/section or $1,537/ha. Covee Energy Corporation was the buyer of this parcel which came with a variety of potential target zones. That parcel is pictured below in Figure 1.
Figure 1
Industry wide, a little over $9 MM was spent in this particular area for 33.5 sections (8,576 ha.) at an average price per area of $269,156/section or $1,051/ha. The neighbouring fields south of Rocky Mountain House would include Ricinus, Caroline and Garrington.
Covee Energy Corporation was also the buyer of some other parcels in the area, spending a little over $5.6 MM in total in this land sale.
Some other parcels in the immediate area from the May 1 land sale are pictured below in Figure 2, with those going to Covee Energy Corp in yellow and to other buyers in blue.
Figure 2
