REGINA — The Government of Saskatchewan's Crown petroleum and natural gas public offering, held on Aug. 6, raised $7,208,879.51 for the province, an average of $501.51/hectare. This compares to $7,413,958.70, an average of $599.68/hectare received at the last offering held on June 4.
One hundred and eight parcels were posted for this offering, and 96 parcels received acceptable bids. These bids covered 14,374.288 hectares.
The Estevan area generated the most revenue, bringing in $4,716,387.14 for 68 leases totalling 5,709.704 hectares.
The highest bonus bid received on a parcel in the Estevan area is $895,408.90, or $2,026.83 per hectare. This 441.778-hectare lease was awarded to Saturn Oil & Gas Inc. and is located 17 kilometres north of Stoughton, within the Viewfield Bakken Sand Oil Pool.
The highest dollars per hectare received on a parcel in this area was $7,217.54 per hectare, a total of $233,920.47. This 32.410-hectare lease is located six kilometres west of the Village of Frobisher and within the Steelman Frobisher Beds Oil Pool. This lease was awarded to Millennium Land (444) Ltd.
The Lloydminster area generated the next-highest amount of revenue, bringing in $1,678,241.23 for 19 leases totalling 3,803.133 hectares, an average of $441.28/hectare.
The highest bonus bid and the highest dollars per hectare received on a lease in this area is $419,233.36, an average of $1,556.81 per hectare. This 269.290-hectare lease was awarded to Whispering Hills Resources Ltd. and is located 19 kilometres west of Turtleford, within the Celtic Mannville Sands Oil Pool.
Bids in the Kindersley area brought in $814,251.14 in revenue for nine leases totalling 4,861.451 hectares, an average of $167.49/hectare.
There were no parcels posted in the Swift Current area in this offering.
After three public offerings this fiscal year, government has raised $30,077,586.23 in revenue. There are six scheduled public offerings each fiscal year. The next scheduled offering in Saskatchewan is Oct. 1.
