Saskatchewan had another strong month for oil and gas public offerings, again outraising the previous year.
The public offerings of Crown petroleum and natural gas rights held on Tuesday, October 4, raised $5,426,564.36 for the province, which more than doubled the October 2021 offering.
This brings the current total for the 2022-23 fiscal year to $34,188,370.54 in revenue for the province.
The single exploration license and 72 of the 78 parcels posted received acceptable bids.
The Estevan area once again saw the most interest, bringing in $4,346,574.09 for 49 leases totaling 4,125.495 hectares.
The highest bonus bid received in this offering is $608,172.96 for a lease south of Oxbow, which was awarded to Adonai Resources II Corporation.
A parcel north of Lampman received the highest dollar per hectare bid of $6,433.42 per hectare with Scout Energy Ltd. bidding $419,414.00 for the 65.193-hectare lease.
The single exploration license received a bonus bid of $352,333.55 for a 4,345.505-hectare block of land west of Kindersley. The successful bidder was Millenium Land (333) Ltd.
The October sale is the fourth of six oil and gas public offerings scheduled for this fiscal year.
The next sale will be held on December 6 and will feature 133 leases covering 18,541 hectares and three exploration licenses covering 5,349 hectares.
Thu, Apr 25, 9:30 AM
