Calgary Herald

Alberta racks up $109m in land sale

- FroM HeralD neWS SerViCeS

AUCTION • Alberta kicked off the first land sale of the current fiscal year with a $109.2-million tally that saw more heavy bidding in the West Central area of the province near Fox Creek.

The twice-monthly auction saw 124,000 hectares sold at an average price of $881 per hectare. Top bid of $17.9 million

went to Scott land and lease, which paid $8,736 a hectare for a drilling licence at 60-24 W5M. A dozen other key parcels in the area added another $27 million, bringing the total spent in the area to $45 million. Observers have speculated the deeper rights

are part of a new shale play in the

province.

A separate sale of oilsands

leases brought in another $6.6 million.

After enjoying a record year for land sales in fiscal year ended

March 31, the province is off to another strong start. On a calendar basis, Alberta has taken in $741.7 million at an average price of $797 a hectare.

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