REGINA -
The Government of Saskatchewan's Crown oil and natural gas public offering, held April 1, raised $11,983,131 for the province, with all four bid areas – the southeast, west-central, northwest and southwest – generating revenue.
The Ministry of Energy and Resources posted 54 parcels for sale, of which 47 received acceptable bids, covering an area of 22,340.571 hectares.
The southeast region generated the largest share of the revenue, bringing in $8,574,009 for 26 leases and two exploration licences, covering an area of 5,902.150 hectares. Thirty leases covering 4,258.86 hectares and four licences for 3,998.370 hectares were posted. The leases brought in $7,950,863, while the licences generated $623,146.
The highest bonus bid and highest dollars per hectare received on a lease in this area was $1,533,771, an average of $6,758.55 per hectare. This 226.938-hectare lease was awarded to Synergy Land Services Ltd. and is located 17 kilometres southeast of Lampman, within the Steelman Frobisher Beds Oil Pool. This was also the highest bonus bid for the province.
The highest bonus bid and highest dollars per hectare received on an exploration licence in this area was $566,264, an average of $550 per hectare. This 1,026.572-hectare licence was awarded to Petro-Lin Energy Corporation and is located one kilometre southwest of Ceylon.
The Lloydminster area generated $1,244,042. There were nine leases covering 2,051.189 hectares and one licence for 1,165.075 hectares, for a total of 3,216.264 hectares. All 10 were sold. The total value per hectare was $386.80.
The highest bonus bid and highest dollars per hectare on a lease in this area is $96,581.83, an average of $372.48 per hectare. This 259.294-hectare lease was awarded to Durham Creek Energy Ltd. and is located 13 kilometres southeast of Neilburg.
The lone exploration licence posted in this area received a bid of $833,156.78, an average of $715.11 per hectare. This 1,165.075-hectare licence was awarded to Metropolitan Resources Inc. and is located 20 kilometres southeast of Maidstone, adjacent to the Carruthers Cummings Sand Oil Pool. This was the most lucrative licence per hectare in the sale.
In the Kindersley-Kerrobert area, two leases were posted for 309.141 hectares, and five licences were available for 11,468.599 hectares. All five licences were gobbled up, for a total of $1,545,575, while one lease was sold for $169,735.28. The value per hectare for the area was $146.24.
The one lease received a bid of $169,735.28, an average of $651.23 per hectare. This 260.638-hectare lease was awarded to Millennium Land (222) Ltd. and is located 25 kilometres northwest of Major, adjacent to the Court West Bakken Sand Oil Pool.
The highest bonus bid received on an exploration licence was $856,917.03, an average of $171.68 per hectare. This 4,991.362-hectare licence was awarded to Elk Run Resources Ltd. and is located 30 kilometres southwest of Eatonia. This was tops for an exploration licence in the province.
The highest dollars per hectare received on an exploration licence in this area is $203.88 per hectare, a total of $317,722.11. This 1,558.378-hectare licence was awarded to AiM Acquisition Company 2018 Ltd. and is located 17 kilometres south of Eatonia.
In the Swift Current area, all three available leases were sold for $449,767.82. They encompassed 1,492.920 hectares, and had a value of $301.27 per hectare.
The highest bonus bid and highest dollars per hectare received on a parcel in this area is $371,643.75, an average of $357.64 per hectare. This 1,039.156-hectare lease was awarded to Saturn Oil & Gas Inc. and is located nine kilometres south of Gull Lake, within the Butte Upper Shaunavon Oil Pool.
This is the first of six oil and gas public offerings for the 2025-26 fiscal year.
According to a Government of Saskatchewan news release, several factors affect public offering activity, including changes in oil and gas prices, land availability, geological and technological constraints and various market conditions.
