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August Oil and Gas Public Offering Raises Over $16.6 Million for the Province

Released on August 10, 2023

The Government of Saskatchewan's Crown petroleum and natural gas public offering held on Tuesday, August 8, 2023, has raised $16,689,771.93 for the province.

Of the 111 parcels posted, 92 parcels received acceptable bids. These bids covered 22,060.899 hectares.

The Estevan area brought in $9,022,070.38 for 70 leases and three exploration licences totaling 9,146.727 hectares.

The Kindersley area brought in $6,273,105.45 for two leases and one exploration licence totaling 10,005.237 hectares.

The Lloydminster area brought in $1,394,596.10 for 16 leases totaling 2,908.935 hectares.

The highest bonus bid received on a parcel in this offering is $6,171,216.64. This 9,226.194-hectare exploration licence was awarded to ISH Energy Ltd. and is located in the Kindersley Area.

The highest dollars per hectare received in this offering is $11,040.85/hectare. This 129.519-hectare lease was awarded to Hummingbird Energy Inc. and is located in the Estevan area. 

After three of six public offerings this fiscal year, the province has received $37,183,902.32 in revenue. This greatly exceeds the $19.4 million that was budgeted for the entire 2023-24 fiscal year.

The next scheduled date for a public offering in Saskatchewan is October 3, 2023.

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For more information, contact:

Jacob Fergus
Energy and Resources
Regina
Phone: 306-510-6470
Email: jacob.fergus@gov.sk.ca

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