Revenues from Crown land auctions in 2005 hits $ 2.3 billion, sets new record
2005 record more than double last year’s total
Edmonton... Revenues from Crown land auctions reached an all-time high in 2005, with the province adding $2.3 billion to provincial coffers.
“The revenues generated from these land leases and licences benefit all Albertans by contributing significant funding for priority programs such as health, education and infrastructure,” said Energy Minister Greg Melchin. “These record setting results confirm the confidence in Alberta’s energy industry.”
The last Crown land auction of the year held on December 14 brought in $544 million in revenues for the province. It was the largest sale ever held in Alberta, offering 905 parcels (713 leases and 192 licences) and 474,030 hectares. By comparison, the previous highest parcel count was 773 in April 2004 and the most hectares offered were 329,548 in September 1996.
Crown land auctions are an important component to managing Alberta’s resources, and the province’s tenure system is looked upon by industry as one of the best in the world.
Industry is granted the rights to drill for and recover petroleum, natural gas and oil sands in Alberta through a competitive sealed bid auction. Sales are held every two weeks, with the highest bidder winning the parcel. For information on Crown land auctions and the land tenure process, please visit the Alberta Energy website at: www.energy.gov.ab.ca
Note to Editor: A backgrounder with information and statistics on Crown land auctions is attached.
- Contact Information
- Cathy Housdorff
- Alberta Energy Communications
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