In 2010, Alberta's petroleum and natural gas land sales netted the province $2.38 billion, exceeding the previous sales record of $1.83 billion set in 2005. Land sales revenue was $732 million in 2009.
In addition, the July 7 sale netted an average price of $2,185/hectare, exceeding the previous high of $2,085/ha.With a conversion factor of 2.47 acres/hectare, this works out to about $885/acre. Currently one US dollar = 0.9875 Canadian dollar, so for my purposes, parity.
My figures show North Dakota collected $230 million from land sales in 2010.
[I made a mistake when I posted this the first time regarding conversion of hectares to acres. Thank you to a reader for catching this for me.]
Check your calculations. There are 2.47 acres per Hectare which works out to a price of $885 per acre.
ReplyDeleteYou are correct. I had the wrong conversion factor. Thank you.
ReplyDeleteThere are 2.47 acres in a hectare. The price makes a lot more sense. Thank you.