Legacy Lands

Freehold receives a significant portion of its revenue from the mineral rights of certain properties acquired from Canpar: properties that were originally granted by the King of England to the Hudson's Bay Company in 1670, during the settlement of Canada. These properties are a vital part of the Western Canadian landscape; creating a checkerboard pattern from the Rocky Mountains across the prairies to Manitoba.

Mineral rights are particularly valuable to Freehold, as we hold the rights in perpetuity. When we began operations in 1996, all of our mineral title lands were leased to third parties. Over the years, our unleased mineral title acreage has grown - through acquisitions, lease expiries, surrenders, and defaults. We now have over 100,000 unleased acres available to lease out to industry or drill ourselves.

The 8's and 26's

Timeline: 1670 | 1870 | 1926 | 1974 | 1979 | 1988 | 1993 | 1996 | 2001  2005 | 2010 | 2011 | 2012

1670

Charles II, King of England, granted to the Governor and Company of Adventurers of England trading into Hudson Bay (Hudson's Bay Company) sole trade and commerce rights in, and title to, all of the lands encompassing the watershed of Hudson Bay. This historic land grant covered 1.5 million square miles, nearly 40% of Canada today.

1870

The Hudson’s Bay Company surrendered title to these lands in exchange for ₤300,000 Sterling and 1/20th of all agricultural land in western Canada. This gave the Hudson’s Bay Company Section 8 and three-quarters of Section 26 (the 8s and 26s) in most Townships south of the North Saskatchewan River between Winnipeg and the Rocky Mountains (approximately 4.5 million acres) – the HB Lands.

1926

The Hudson’s Bay Company co-founded Hudson’s Bay Oil and Gas Company Limited with exclusive right to lease all of the HB Lands in western Canada to explore for oil and gas.

1974

The Hudson’s Bay Company sold its mineral title interests in western Canada to Siebens Oil & Gas Ltd.

1979

Canpar Holdings Ltd. (owned by the CN Pension Trust Funds) and Dome Petroleum Limited jointly acquired the assets of Siebens.

1988

Amoco Canada Petroleum Company Ltd. acquired Dome Petroleum.

1993

Canpar and Amoco exchanged certain assets whereby Canpar acquired increased mineral title ownership in the producing HB Lands originally acquired from Siebens.

1996

Canpar and Rife Resources Ltd. (private companies owned by the CN Pension Trust Funds) established Freehold Royalty Trust. Proceeds from Freehold’s $264 million initial public offering were used to acquire all of Canpar’s producing royalty interests (with Canpar retaining the non-producing deeper rights). Freehold also acquired several working interest properties from Canpar and Rife.

1997

Freehold acquired various royalty and working interests for $22 million, adding 700 boe per day from producing properties in Alberta and Saskatchewan. 

2001

Freehold acquired producing and non-producing mineral titles for $25 million, adding 800 boe per day from properties in southeast Saskatchewan.

Freehold completed a $30 million equity financing.

2005

Freehold acquired Petrovera Resources from Canadian Natural Resources Limited for $352 million, adding 3,800 boe per day from producing royalty properties in western Canada and Ontario, including legacy land mineral titles. The acquisition doubled our royalty land base.

Freehold completed a $260 million equity financing.

2007

Freehold acquired various royalty interests for $91 million, adding 700 boe per day from producing properties in Alberta and Saskatchewan.

2009

Freehold acquired various royalty interests for $10 million, adding 100 boe per day from producing properties in Alberta and Saskatchewan.

Freehold completed a $110 million equity financing.

2010

Freehold acquired various royalty interests for $38 million, adding 400 boe per day from producing properties in Alberta and Saskatchewan.

Freehold converted to a corporation effective December 31, 2010, and changed its name to Freehold Royalties Ltd.

2011

Freehold acquired various royalty interests for $7 million, adding 100 boe per day from producing properties in Alberta.

Freehold marked 15 years in operation on November 25, 2011.

2012

Freehold acquired various royalty interests for $60 million, adding 600 boe per day from producing properties in Alberta, British Columbia and Saskatchewan, including legacy land mineral titles.

Freehold completed a $68 million equity financing.

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