REGINA - The Government of Saskatchewan's Crown petroleum and natural gas public offering, held on Feb. 6, has brought in a little more than $10 million for the province.
Of the 48 parcels posted for this offering, 44 parcels received acceptable bids. These covered 14,651.566 hectares.
The southeast region generated the most interest, raising $7,223,245 through 23 leases and one exploration licence totaling 8,756.552 hectares.
Additionally, bids for leases and licenses in the Lloydminster area brought in $1,916,571. These bids covered 17 leases and one exploration licence totalling 5,375.414 hectares.
Acceptable bids in the Kindersley area generated $902,295 for two leases totaling 519.6 hectares.
Millennium Land (222) Ltd. made the highest bonus bid on a parcel in this offering, bidding $5,055,881, an average of $1,203.97 per hectare, for a 4,199.342-hectare licence southeast of Radville. This license is prospective for oil in the Ratcliffe Beds.
The highest dollars-per-hectare bid received was $3,342.19 per hectare, for a total of $216,169.51. This 64.679-hectare lease is in the Kindersley area, northeast of Dodsland, and was awarded to Synergy Land Services Ltd. This lease is prospective for heavy oil in the Mannville Group.
This was the final public offering of six for the 2023-24 fiscal year. The province has received $75.5 million in revenue.
The next scheduled date for a public offering in Saskatchewan is April 2. This offering features 145 leases covering 17,676.045 hectares and two exploration licenses covering 2,092.343 hectares.
