Western Canada leasing: revenue rebounds in 2017 Report

Insight 27 December 2017

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Report summary

Western Canada experienced a land sale renaissance in 2017. After two painful years in survival mode, companies were eager to expand exploration budgets and bolster land positions. Cdn$793 million was spent across Western Canada to acquire 4.36 million acres. Bonus revenue increased over two and a half times compared to 2016, while total acquired acreage increased by 48%. The average lease sold for Cdn$182/acre across Alberta, British Columbia and Saskatchewan, an increase of 250% compared to 2016. Alberta continues to lead in terms of total revenue and awarded acreage. However, high price tag parcels in British Columbia's Montney and Western Saskatchewan helped boost provincial revenue. Top-tier and prospective acreage in Western Canada's key unconventional plays drove the impressive 2017 land sales.

Comeback story for Western Canada
Provincial highlights
- Alberta continues to lead inspend and acreage
- Another quiet year for oil sands
- Resurgence in British Columbia
- Saskatchewan leasing shifts west
Canada leasing results in perspective