Released on October 5, 2023
The Government of Saskatchewan's Crown petroleum and natural gas public offering, held on Tuesday, October 3, 2023, has raised $11,049,882.97 for the province.
Of the 157 parcels posted for this sale, 107 parcels received acceptable bids. These bids covered 18,870.845 hectares.
The Kindersley area generated the most cashflow, bringing in $5,811,151.08 for 20 leases and two exploration licenses totalling 7,591.560 hectares.
Bids for leases and a license in the Lloydminster area brought in the next-highest amount, $2,703,203.64. These bids were for 33 leases and one exploration license totalling 7,222.166 hectares.
Acceptable bids in the Estevan area generated $2,516,328.95 for 47 leases covering 3,668.270 hectares.
The Swift Current area generated $19,199.30 in acceptable bids.
Millennium Land Ltd. made the highest bonus bid for a parcel - $4,244,502.88 for an exploration license on a 2,788.785 hectare property. The land is in the Kindersley area, west of Kerrobert.
Regina-based ROK Resources Inc. submitted the highest dollars-per-hectare bid, $3,153.15 per hectare for a 33.3 hectare lease in the Estevan area, southwest of Stoughton.
After four of six public offerings this fiscal year, the province has received $48,233,785.29 in revenue. At this time last fiscal year, oil and gas public offerings had generated $34,188,370.54 in revenue.
The next scheduled date for a public offering in Saskatchewan is December 5, 2023.
For more information, contact:Evan Radford
Energy and Resources