The Alberta Government brought in $7.9 million on its May 29, 2024 Crown land sale. In total, 15,024 hectares of land were sold at an average of $523/ha.
To see the full results of this land sale and other pieces of market intelligence, head over to BOE Intel.
Unlike some previous recent land sales, this one didn’t have any particular parcels of note that represented a large portion of the total bonus paid. None of the parcels of land fetched more than $1 MM or went for more than $1 MM/section.
However, that doesn’t mean that there wasn’t anything of note in this land sale. A little over 20 sections (5,233 hectares) of mineral rights were purchased in northwest Alberta, continuing a trend that we have noticed over the last year. In fact, this area has been rather active for new land sales with more than 60,000 hectares (~234 sections) of land purchased at Alberta Crown land sales over the last year. While this is a pretty substantial size, it is in a remote area so the actual dollar values involved have been rather modest. The total dollar amount spent on the ~60,000 hectares has amounted to ~$7.4 MM at an average price of $123/ha ($31,471/section).
Figure 1 – Alberta Crown land sale results from the last year (purple)
Still, it’s interesting activity to note. In the vicinity, there have only been a handful of spuds over the last 3 years. Archer Exploration had 4 wells drilled into the Muskeg formation, but that’s about it.
The ownership breakdown of the Alberta Crown land sales shown in Figure 1 is broken down in Figure 2. The vast majority of the mineral rights owners are unknown at this point as they are held under various different land brokers.
Figure 2 – Mineral rights ownership of AB Crown land sales from areas shown in Figure 1
