DOB Land Sale Analysis: Evi, Bonanza and Valhalla Parcels Highlight Alberta’s August 24 Sale
The province sold 24,675 hectares of P&NG leases and licences in the August 24 land sale that brought in $6.86 million. Additionally, 5,376 hectares of oilsands leases sold for $2.74 million. This brings the total cumulative bonus paid to-date in Alberta to $286.73 million.
Highlights of this sale included:
A – Evi: Cougar Creek Land paid $2.16 million, the highest bonus paid in this sale, for rights that included below the top of the Peace River to the base of the Pekisko in the Evi field of the Peace River Oil Sands Area. Oilsands activity has been picking up in this area; 12 kilometres to the north, in Q2 2022, an open hole multilateral Spirit River pad (Clearwater equivalent) was drilled by Durham Creek.
B – Bonanza: Three parcels of land, totalling 9,472 hectares, sold for $2.09 million in the Bonanza area (rights were mostly from surface to basement). Lexterra purchased the largest of the three parcels for $1.97 million. Recent activity in the area has targeted the Montney formation to the west while the Charlie Lake formation is the target of choice to the east.
C – Valhalla: Millennium Land paid the highest unit price/ha, $4,129.97/ha, for 256 ha in Valhalla area. The rights were from surface or below base Doe Creek to the top of the Montney and below the base of the Granite Wash to the base of the basement. The 100/09-35-075-08W6/00 wellbore, 1 kilometre north of the parcel, has produced 450 boe/d from the Charlie Lake since April 4, 2022 (see Q2 2021 geoXPLORER report, Valhalla Charlie Lake spud story).
For full results, click here: Alberta Collects $9.6 Million At August 24 Land Sale
Data for the map is provided by geoLOGIC systems ltd.’s geoSCOUT.
- Oilfield Services
- Land Sales
- Charlie Lake
- Spirit River