SHELL CANADA LIMITED, top spender at last year's land sales, highlighted activity in yesterday's Alberta Crown land sale by paying just over $16 million for land in the Sundre and Harmattan areas.
Including two smaller purchases, Shell spent $16.57 million yesterday or based on the 1986 Top Spender report due to be published tomorrow, 30% more than the total spent by the company through all of 1986.
In the Sundre area, Shell paid $3.33 million for a 256-hectare lease parcel consisting of rights below the Mannville in the east half and those underlying the Shunda zone in the west half of 1-34-5 W5M.
In addition to paying a whopping $13,007.81 a hectare for that lease parcel, Shell handed over another $1.33 million or $5,179.69 a hectare for deep rights under the Mannville in the section directly below at 36-33-5 W5M.
In addition to Shell's Sundre activity, the company spent a total of $11.49 million on two licence parcels consisting of a total of 8,704 hectares in the Harmattan area, one of which fetched an average bonus bid of $2,432.81 a hectare.