The Alberta Government brought in $40.4 MM on its August 21st Crown land sale.
In total, 55,435.56 hectares were sold at an average price of $729.21/ha.
This was the largest land sale dollar bonus since the March 20, 2024 land sale, and continues a strong 2024 for Alberta Crown land sales.
Click here to see the full land sale results on BOE Intel.
A large chunk of that total bonus figure came from 2 parcels of land near Sundre, AB. Those two parcels (shown in orange below) represented ~63% of the August 21st total dollar amount. These two parcels went for a combined $25,654,234, with each parcel fetching an identical $3,712/ha. Millennium Land Ltd. represented the buyer (or buyers?) for both parcels.
It’s an interesting area to see a high dollar bonus, as this area has only seen modest activity recently, save for some Glauconitic wells and further back some Cardium drilling. We analyzed the area using BOE Intel‘s Activity Reports, based on the shape drawn below.
Licensing and spud activity has been fairly modest for this area over the years, with usually only a handful of licences/spuds per month.
The Glauconitic formation has been the most licensed formation in this area YTD, with Whitecap Resources and TAQA North being the most active licensees since the beginning of the year.
In terms of production, Whitecap, Tourmaline, TAQA North, Pine Cliff and Loyal Energy have the most production in the area.
Production by formation shows the Glauconitic as the dominant producing formation in the area.
*production figures represent gross licensed production and do not account for any working interest sharing agreements – May 2024 production data