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Going once, going twice, unsold: 2016 Western Canada leasing


Going once, going twice, unsold: 2016 Western Canada leasing

Report summary

Western Canadian lease activity continued to decline in 2016, hitting the lowest levels in total spending since Wood Mackenzie started tracking in 1993. This is no surprise, as capital budgets and associated exploration allocations were slashed coming into 2016 to cope with low commodity prices. A total of 12,609 square kilometres (2.98 million acres) were acquired in 2016, a 30% decrease from 2015. Average prices per acre reached lows not seen since 1995.

The decrease in both acreage leases and bonuses in 2016 was a clear sign of the times. We review 2016 sales results across Alberta, British Columbia, Saskatchewan and the oil sands sector noting the positive and negative trends across each region. 

What's included?

This report includes 2 file(s)

  • Going once, going twice, unsold: 2016 Western Canada leasing PDF - 13.46 MB 8 Pages, 0 Tables, 7 Figures
  • western canada leasing 2016.xls XLS - 602.50 KB

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in upstream commercial data and analysis.

  • Western Canada bonus revenue, acreage prices, and WTI price
  • New lows reached in both acreage and bonus paid
  • Provincial highlights
    • Alberta continues to lead
    • Oil sands activity declines
    • Southeast Saskatchewan shows strength, the rest not so much
    • British Columbia continues to show the effects of LNG uncertainty
  • 2017 expectations: tempered optimism

In this report there are 7 tables or charts, including:

  • Western Canada bonus revenue, acreage prices, and WTI price
    • Going once, going twice, unsold: 2016 Western Canada leasing: Image 1
  • New lows reached in both acreage and bonus paid
    • Map of 2016 lease results by bonus per acre
  • Provincial highlights
    • Southeast Saskatchewan leads in 2016 Cdn$/acre
    • Alberta's share of lease revenue declines
    • 2016 monthly leasing trends
    • 2016 vs. 2015 Alberta acreage prices distributed logarithmically
    • Oil sands acreage and bonus paid
  • 2017 expectations: tempered optimism
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