June Oil and Gas Public Offering Nets Over $9.3 Million For the Province

Released on June 8, 2023

The Government of Saskatchewan's Crown petroleum and natural gas public offering held on Tuesday, June 6, 2023, has raised $9,380,670.64 for the province.

Of the 100 parcels posted for this sale, 88 parcels received acceptable bids. These bids covered 19,094.52 hectares.

The Estevan area generated the most interest, bringing in $4,004,142.01 for 52 leases totalling 5,294.367 hectares.

The Kindersley area also saw considerable interest, bringing in $3,651,264.57 for 10 leases totalling 6,544.90 hectares.

Accepted bids in the Lloydminster area brought in $1,725,264.06 for 26 leases totalling 7,255.24 hectares.

The highest bonus bid received on a lease in this offering is $1,383,203.95 from Whispering Hills Resources Ltd. for a 1,042.36 hectare lease northeast of Dodsland in the Kindersley area. 

The highest dollar-per-hectare bid received in this offering, at $9,172.44 per hectare, is for a 32.31 hectare lease in the Estevan area, awarded to Surge Energy Inc. 

After two of six public offerings this fiscal year, the province has received $20,494,130.39 in revenue.

The next scheduled date for a petroleum and natural gas public offering in Saskatchewan is August 8, 2023.

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