The Alberta Government brought in $6.9 MM on its March 19th Crown land sale.
In total, 18,175.49 hectares were sold at an average price of $377.84/ha.
Click here to see the full land sale results on BOE Intel.
This was a minor land sale by industry standards, with a relatively small total dollar bonus compared to recent history. The most richly priced parcels of land from this sale were 4 sections (1,024 hectares) of deep rights south of Fox Creek. Veren was the buyer of these rights for a combined total of $2,640,784 ($2,579/ha.). These rights extend to the basement, with the Duvernay as the likely target.
In Figure 1 below, we show the 4 sections of new Veren rights (blue), alongside existing Veren mineral rights (yellow), Whitecap mineral rights (red) and industry Duvernay spuds over the last year (black).
Figure 1 – BOE Intel
