NewsOil & GasProvincial

December Oil and Gas Public Offering Raises $11.9 Million in Revenue

The Government of Saskatchewan’s Crown petroleum and natural gas public offering held on Tuesday, December 6, 2022, has raised $11,917,227.14 for the province.

The December sale is the fifth of six oil and gas public offerings scheduled for the 2022-23 fiscal year, with a current fiscal year total of $46,105,597.68. In terms of calendar year, this sale completes the year with a total of $52,249,842.10 in revenue raised. This amount is a substantial increase over the 2021 calendar year, which brought in a total of $9,095,555.03 in revenue.

Of the 136 parcels posted, 103 received acceptable bids covering 16,184.469 hectares. The average bonus bid was $736.34 per hectare with the highest acceptable bid at $36,594.80 per hectare.

The Estevan area saw the most interest, bringing in $9,602,654.64 for 76 leases covering 8,217.836 hectares. The Lloydminster area also saw considerable interest, bringing in $2,276,702.98 for 22 leases and 2 exploration licenses covering 7,576.444 hectares.

The highest bonus bid received on a lease was $2,321,754.22 for a 259.657 hectare lease west of Oxbow that was awarded to Millennium Land Ltd. The highest bonus bid received on an exploration license was $602,881.93 for a 1,688.272 hectare licence west of Cut Knife that was awarded to Metropolitan Resources Inc.

The next sale is scheduled for February 7, 2023

For the latest information and for more updates on everything Kindersley,
‘Like’ the Kindersley Social Facebook page!

Related Articles

Back to top button