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August Oil and Gas Public Offering Raises $6.5 Million

Saskatchewan’s public offering of Crown petroleum and natural gas rights held on Tuesday, August 9, 2022, raised $6,520,191.82, which is more than double the August 2021 offering. This brings the current total for the 2022-23 fiscal year to $28,761,806.18 in revenue for the province.

The August sale is the third public offering scheduled for the 2022-23 fiscal year. The previous five sales raised $2.9 million (M) in June, $19M in April, $6.1M in February 2022, $1.4M in December; and $1.9M in October 2021.

Of the 93 parcels posted, 84 received acceptable bids covering 7,839.537 hectares. The Estevan area once again saw the most interest, bringing in $6,211,770.10 for 70 parcels totaling 6,105.319 hectares. The average bonus bid was $831.71 per hectare with the highest acceptable bid at $7,341.15 per hectare.

The next sale will be held on October 4, 2022.

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