The province is reporting it raised more than $10 million in its latest petroleum and natural gas public offering. A total of 48 parcels were posted for the offering, 44 of which received “acceptable” bids, according to the province. The bids covered a total of 14,651.566 hectares with the Estevan area generating the majority of interest. Twenty three leases and one exploration license near Estevan raised $7,223,245.77 and accounted for 8756.552 hectares of the sale. The Lloydminster area generated $1,916,571.78 for its 17 leases and one exploration license totaling 5,375.414 hectares. Bids near Kindersley generated $902,295.16 for two leases totaling 519.600 hectares. The largest bid was placed by Millennium Land Ltd. for a 4,199.342 hectare license in the Estevan area, southeast of Radville, Sask. The $5,055,881.79 license is prospective for oil in the Ratcliffe Beds. Synergy Land Services Ltd. was responsible for the highest dollars per-hectare bid – paying $216,169.51 for a 64.679 hectare lease. That equals $3,342.19 per hectare. The lease located in the Kindersley area is prospective for heavy oil in the Manville Group. The latest offering is the final one of six for the fiscal year. All told, the Government of Saskatchewan received $75.5 million for the 2023-24 fiscal year. Saskatchewan’s next public offering is set for April 2, 2024 and will include 145 leases covering over 17,000 hectares and two exploration licenses covering nearly 2,100 hectares.
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