The first sale of petroleum and natural gas rights in Saskatchewan this calendar year raised 5.1-million dollars for the province.
This brings total land sale revenues for for fiscal 2015-2016 to 44-million dollars.
February’s sale averaged 177-dollars per acre, compared to Alberta’s latest sale at 47-dollars and BC at 30-dollars an acre.
Economy minister Bill Boyd says Saskatchewan remains among the top 10 jurisdictions in the world for petroleum investment attractiveness, and number one in Canada.
The Weyburn-Estevan area led the way, accounting for 80-percent of the total.
Four parcels west of Estevan received bonus bids totalling 2.1 million dollars.
The region has multiple zones of interest including the Torquay and Bakken Formations, along with the Midale Beds of the Madison group.
The highest price per acre was two thousand dollars for an 80-acre lease south of Arcola.
The next sale of crown petroleum rights will be in April.