Land Sale Results

Synopsis of Manitoba's Oil Lease Sale

May 14, 2008

black dropLease Sale Statistics (1979 - 2008 PDF)
black dropSchedule of Public Offering - 2008 (PDF)
black dropSchedule of Public Offering - 2009 (PDF)

The results of competitive bidding on May 14, 2008 for Crown oil and gas rights which was offered by the Department of Science, Technology, Energy and Mines, resulted in a total of $1,510,342.39 being added to provincial revenue.

All of the Twenty-three lease parcels offered, covering 1536 hectares (3795.46 acres) were sold for a bonus amount totaling $1,495,766.39. The average price per hectare for lease parcels sold was $973.81 ($394.10 per acre), smashing the previous record of $344.91 ($139.58/acre) established in October 1985 during the development of the Waskada Oilfield.

Cosens Drilling Ltd., paid the highest price per hectare for a parcel located in the Sinclair area. The firm paid a record $3,296.88 per hectare ($1,334.23 per acre) as a tender bonus.

This is the second of four sales scheduled for 2008. The next sale will be held on August 13, 2008. The deadline for posting requests is May 16, 2008.

Four sales are scheduled for 2008; February 13, May 14, August 13 and November 12, 2008.

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