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January 25, 2013
Daily Oil Bulletin – 75th Anniversary Edition
By Gregg Scott
I read the DOB every day. In fact, when I started out in the business 30 years ago, a wise friend in the oilpatch gave me some sound advice—always take a few minutes each day and read the DOB. It’s the bible of our industry, where you can always read what’s going on and the place of record for results from every Crown land sale.
Our business, Scott Land & Lease Ltd., amongst many other services, acquires Crown and freehold mineral rights for clients in Western Canada. In fact, we have been the top Crown Land buyer for clients at government land sales for the past 20 consecutive years.
In that time, our annual bid total for our clients has ranged anywhere from $200,000 to $1.4 billion in a year. Going forward, these totals for land sales will probably see even higher highs and perhaps lower lows. Land sales are definitely a barometer and leading indicator of the state of this industry.
One of the factors that have contributed to strong landsales over the past several years has been advances in technology. Clients are applying the latest fracturing technology and play concepts to old fields and obtaining spectacular results, which have driven up what they are willing to pay for Crown and freehold land. This has been a boon for provincial coffers and freehold mineral owners alike.
Land values have changed dramatically over time, too. Back in the mid-1980s we leased up nearly the entire Bakken play in southeastern Saskatchewan for a client; however, low oil prices and technology that was not yet advanced enough caused the client to basically walk away from a half million acres of prime Bakken land. What would that land be worth today? Amazing!
In addition to Crown land sale purchases, we also lease a lot of the offsetting freehold land for clients. The economics on freehold is different than Crown; however, there are definitely opportunities for leasing freehold today in various plays in Western Canada. This land turns over every three years on average and can be a great base to build a Crown land spread around. Yet it’s surprising to see how often Crown land will go for $2,000 or $3,000 per hectare at a land sale and the offsetting freehold is left unleased.
Another factor that has contributed to strong landsales has been the introduction into the market of international companies–companies that are looking at all areas of Western Canada, not just the oilsands. In addition to many Asian companies, we have done business with companies from elsewhere around the world. Western Canada has truly become the “United Nations of the Energy Business.”
Some risks to the industry and future land sale revenues are government policy and the politicizing of the energy business. Energy matters, such as pipelines, have been used as bait in the most recent U.S. presidential race as well as almost every provincial election in the last few years. Land sales are one of the first areas to get hit when the industry suffers a downturn or when policies change. That can have dramatic and immediate repercussions to provincial budgets in energy-producing provinces and eventually our entire Canadian economy.
That said, the future generally looks bright for the oil and gas industry, the land business and future land sales. New play concepts will be developed, new oil finders will emerge, current technologies will advance and even new ones will be invented. And always, the companies with the new ideas will need one thing to get started—the Land!
Gregg Scott is the president of Scott Land & Lease Ltd., a leading company in land acquisition and stakeholder engagement in a wide variety of industries, primarily oil and gas, but also including potash, telecom, major pipelines, power transmission, green energy and transportation. He has been active in the land business for over 30 years and is also active in the community supporting a number of charitable endeavours.
January 18, 2013
Daily Oil Bulletin
The British Columbia government kicked off its 2013 land sale schedule this week by attracting just under $10 million in bonus bids, less than one-third what it received a year ago.
The January sale offered 37 licences and leases of which 31 were sold for a total of $9.87 million. The 11,786 hectares went for an average price of $837.36. The province’s first sale of 2012 generated $32.15 million in revenue with 24,212 hectares exchanging hands at an average of $1,327.69.
B.C. has brought in $68.45 million on 86,338 hectares at an average of $792.79 since the start of its 2012/2013 fiscal year April 1, 2012. Two more land sales, one in February and another in March, are scheduled in the current fiscal year which ends March 31, 2013.
At this week’s sale, the only parcel to crack the $1 million-bonus mark was a successful $1.34 million bid by Basm Land & Resources Ltd., which paid an average of $1,587 for an 844-hectare lease. The broker acquired the rights to units 34, 35, 44 and 45 at G-94-H-04.
Sekani Resources Ltd. produced the per-hectare high of $2,612.55 by picking up a 283-hectare lease. The broker paid a bonus of $739,351 for units 11 and 21 at I-94-B-15 and units 20 and 30 at L-94-B-16.
Scott Land & Lease Ltd. scooped up two drilling licences for combined bonus bids of $1.22 million. The broker paid an identical bonus of $609,929 which amounted to an average price of $2,310.34 for each 264-hectare parcel.
One parcel was for section 35 at 87-24W6 while the other included section two at 88-24W6
January 16, 2013
Scott Land & Lease Ltd. (Scott Land) is the largest and most experienced land company in Saskatchewan and the largest land buyer in Western Canada. With full-service offices in Lloydminster and Regina for over 20 years and a team of 37 experienced, local professionals comprised of land agents, administrators, and project managers, the company has the resources, skills, relationships, and experience to ensure the success of your potash project.
Scott Land has been assisting the potash industry for over a decade. With land expertise in mineral rights acquisition, surface access, and public consultation, Scott Land has been able to seamlessly transfer the skill sets and knowledge acquired in its oil and gas business to the potash industry.
When permits or projects have a freehold mineral rights component, it is critical to be able to secure those rights in a timely and efficient manner. Scott Land has the expertise and experience to be able to negotiate and secure these vital interests that will allow your company to move their plans forward. Scott Land has leased over 250,000 acres of potash rights, with over 2,500 distinct freehold mineral owners for various clients over the last few years. Scott Land handles all interest registration and title curity issues, enabling clients to be rest assured that they have solid, legally binding potash leases. They also administer mineral agreements as they relate to rental payments and royalty payments, leaving client resources available for other tasks.
Scott Land has been leasing mineral rights for various industries for over 20 years. They have unrivaled experience dealing with all leasing issues, including estate matters and hard to locate landowners. They understand both solution and conventional mining requirements and how they affect landowners. Scott Land is able to speak to Crown royalty structures with landowners and have a deep understanding of mineral owner motivations. This enables them to work independently and knowledgeably, which is vital to starting mineral owner relations off on the right foot. You never get a second chance at a first impression. Experience can make the difference to the success of your mineral acquisition program, and they have plenty of it.
When it comes time to explore those Crown permits and freehold leases, Scott Land also leads the way in knowledge, experience, and results. From scouting locations, compliance with all regulatory requirements, land owner representation and negotiations, priority interest registration, acquisition of required third-party consents to environmental requirements; Scott Land does it all, delivered to you with guaranteed accuracy.
They take your exploration land needs from cradle to grave. Starting with seasoned and sound advice, to the final abandonment and reclamation process, Scott Land will keep your company apprised through the entire surface acquisition process with timely and accurate reporting, sound and knowledgeable guidance, all done at competitive rates.
When exploration is complete and its time to start planning your new mine and associated facilities, Scott Land’s public consultation and community engagement team is there to see you over the final hurdles. They can negotiate fee simple purchases or long-term leases of your required land, assist your company’s public relations and stakeholder messaging group, organize open houses, assist in dispute resolution, obtain municipal approvals, facilitate agreements and discussion with Crown corporations – all done professionally and cost effectively.
From greenfield projects to expansions at existing mines, Scott Land can assist and guide companies through all land-related requirements. Their relationships with landowners and key stakeholders generate time savings and project efficiencies. Competitive rates combined with experienced people who live and work close to your project, add up to reduced cost and great value.
Scott Land’s Regina staff of land professionals has extensive potash experience. No other land company has the resources or infrastructure to be able to react and adapt to changing time-frames and corporate objectives. Benefit from Scott Land & Lease’s experience, reputation, and in-depth knowledge of the potash industry.
Phone Chad Morris at (306) 359-9000 or Greg Meidinger at (403) 261-6503 to learn how Scott Land can assist you with your potash projects.
Pictured in photo: Gord Ells (Landowner) and Chad Morris (Scott Land & Lease, Regina office)
January 8, 2013
Daily Oil Bulletin: By Richard Macedo
Scott Land & Lease Ltd. was the top Crown buyer at land sales in Canada in 2012, with total bonus payments of $515.34 million, mostly for acreage in Alberta.
The broker acquired 1.11 million hectares on behalf of clients at an average price of $466.19. Scott Land picked up 785,459 hectares in Alberta for $425.6 million.
Second on the list in 2012 was Standard Land Company Inc., which spent $202.35 million on behalf of its clients. The broker picked up 411,640 hectares at an average price of $491.58. Most of Standard’s spending was also in Alberta where it paid $173.23 million and acquired 367,296 hectares.
Progress Energy Resources Corp.
was the top company buying land under its own name, spending $20.46 million and acquiring 5,607 hectares at an average of $3,649.32. All the land tied up was in British Columbia where the company has been a top developer of the North Montney play. Late in 2012, Progress reported the completion of the arrangement in which PETRONAS Carigali Canada Ltd. acquired the company following federal government approval for the acquisition.
For the year, Britt Resources Ltd. paid the top bonus of $32.47 million for a parcel in the area around 60-26W5 in the May 30 Alberta land sale. The 4,864-hectare parcel sold for an average price of $6,675.75.
Roland Resources 2012 Inc. paid the top price per-hectare of $22,890.62 at the May 2 Alberta sale, paying a total bonus of $2.93 million. The 128-hectare lease included the southern half of section 23 at 65-13W5.
Top 10 ALL Province Parcels (By Bonus) January – December 2012
|PURCHASER||BONUS||AREA||LAND SALE||PARCEL #||$/HECTARE|
|1||Britt Resources Ltd.||$32,470,848||60-26W5||12/05/30||B0568||$6,675.75|
|2||Stomp Energy Ltd.||$22,779,656||42-8W5||12/10/03||B0231||$4,505.47|
|3||Stomp Energy Ltd.||$17,309,273||24-3W5||12/09/19||B0306||$4,779.08|
|4||Plunkett Resources Ltd.||$14,882,038||61-8W6||12/04/18||B0398||$2,527.52|
|5||Standard Land Company Inc.||$12,943,985||84-9W5||12/06/27||B0241||$1,963.59|
|6||Scott Land & Lease Ltd.||$11,528,056||66-4W6||12/06/27||B0221||$4,093.77|
|7||Silver Hawk Resources Ltd.||$9,644,191||44-4W5||12/12/12||B0247||$6,278.77|
|8||Scott Land & Lease Ltd.||$9,391,596||68-6W6||12/07/11||B0185||$4,585.74|
|9||Stomp Energy Ltd.||$8,717,012||62-9W6||12/04/18||B0446||$2,002.99|
|10||Maverick Land Consultants 2012 Ltd.||$8,669,270||94-H-4||12/12/12||64487||$1,626.81|
January 2, 2013