Scott Land & Lease News

Murky Merger Picture

December 10, 2012

Gregg Scott was quoted in the December 7, 2012 Special National Post publication for the CAPP Investment Symposium in Toronto.

 

Interpretation of policy on state-owned enterprises is key

 

The number of mergers and acquisitions in the Canadian oil patch fell in 2012, reflecting a three-year trend that threatens to continue as industry players struggle with global economic uncertainty.

 

While mega bids such as CNOOC Ltd.’s proposed $15.1-billion takeover of oil and gas producer Nexen Inc. commanded national headlines this year, the actual number of acquisitions dropped as oil prices dipped and prime real estate — light oil and liquids rich plays — thinned.

 

December 6, 2012 – Saskatchewan Land Sales Top $100 Million

December 7, 2012

The December sale of Crown petroleum and natural gas and oilsands rights generated $11.5 million in revenue for the province, bringing final land sale revenues for the 2012 calendar year to $105.7 million.

Industry bid an average of $598 per hectare for oil and gas rights, which is more than double the $218 per hectare received by Alberta in their last sale of oil and gas rights. This sale also featured five oilsands special exploratory permits north of the Primrose Lake Air Weapons Range, two of which received acceptable bids.

“It is encouraging that more than $1 million in bonus bids was received for two of the oilsands permits that were offered in this sale,” Energy and Resources Minister Tim McMillan said. “In addition to a bonus bid, these permits require a minimum work commitment expenditure to be spent in exploration over the five-year term of the permits. The province is cautiously optimistic that the results of this exploratory work will provide further insight into the potential of the resource in the province.”

December’s sale included 89 lease parcels that brought in $8.9 million in bonus bids, two petroleum and natural gas exploration licenses that sold for $1.6 million, and two oilsands special exploratory permits that received $1 million.

The Weyburn-Estevan area received the most bids with sales of $6.1 million. The Lloydminster area was next at $2.6 million, followed by the Swift Current area at $1.8 million and the Kindersley-Kerrobert area at $982,890.

The highest price for a single parcel was $1.6 million. Scott Land & Lease Ltd. acquired this 1,327-hectare exploration license south of Gull Lake.

The highest price on a per-hectare basis was $8,412. Stomp Energy Ltd. bid $136,188 for a 16-hectare lease parcel east of Lloydminster.

 

http://www.4-traders.com/news/Ministry-of-Energy-and-Resources-of-Saskatchewan-December-6-2012-Saskatchewan-Land-Sales-Top-$1–15580040/