Land sales for natural gas and petroleum rights way down in Saskatchewan

The total revenue Saskatchewan has generated through the sale of land for natural gas and petroleum rights is down significantly in 2015 compared to the previous year.

The province outlined how October land sales were valued at $9.8 million, bringing the total for the year to $45.5 million.

“The long-term viability of Saskatchewan’s oil patch relies on new discoveries,” Economy Minister Bill Boyd said in a news release.  ”The province is cautiously optimistic that exploration activities on the lands acquired will prove successful.”

However, in 2014 at this time the government had brought in $179.6 million.

The Crown’s next sale of natural gas and petroleum rights will be held Dec. 1.