Although Freehold is relatively new in terms of its operations, the history of the Hudson's Bay Royalty Lands actually extends back more than 300 years. Freehold receives a significant portion of its revenue from the mineral rights of certain properties acquired from Canpar; properties that were originally granted to the Hudson's Bay Company during the settlement of Canada. The mineral rights are particularly valuable to Freehold, as the rights are held in perpetuity. These properties have a long history and are a vital part of the Western Canadian landscape - from the Rocky Mountains, across the prairies, to Manitoba.
1670
Charles II, King of England, granted to the Company of Adventurers (Hudson's Bay Company) sole trade and commerce rights in, and title to, all of the lands encompassing the watershed of Hudson's Bay. This historic land grant covered 1.5 million square miles, nearly 40% of Canada today.
1867
Upon Confederation, 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 3/4ths 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
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 minteral 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.
2001
Freehold acquired 129,000 gross acres of producing and undeveloped mineral title and gross overriding royalty interests in southeast Saskatchewan.
2005
Freehold acquired Petrovera Resources from Canadian Natural Resources Limited, adding more than a million gross acres of mineral title and gross overriding royalty interests in western Canada and in Ontario. This acquisition more than doubled our royalty land holdings.
2010
Freehold continues to focus on acquiring and managing oil and gas royalties. Today, our total land holdings encompass 2.4 million gross acres, over 90% of which are royalty interests.