REGINA - Saskatchewan's public offering of Crown petroleum and natural gas rights raised more than $6.5 million, according to information released Thursday by Saskatchewan’s Ministry of Natural Resources.
This brings the total for the 2022-23 fiscal year to more than $28.7 million in revenue for the province. The August sale is the third public offering scheduled for 2022-23.
Of the 93 parcels posted, 84 received acceptable bids covering 7,839.537 hectares. The southeast area once again saw the most interest, bringing in more than $6.2 million. The average bonus bid for the province was $831.71 per hectare, with the highest acceptable bid at $7,341.15 per hectare.
The highest bonus bid and highest dollars per hectare received on a parcel in this offering was $1.9 million, an average of $7,341 per hectare, for a 258.816-hectare parcel. This lease was awarded to Hummingbird Energy Inc., and is located 11 kilometres southeast of Lampman, within the Steelman Frobisher Beds Oil Pool.
Prairie Land and Investment Services Ltd. was the most active bidder in this offering, submitting bids totalling $2.6 million for 22 leases comprising 1,820.575 hectares. These leases are all located in the southeast. Sixteen are located 24 kilometres north of Stoughton, within the Viewfield Bakken Oil Pool.
In the southeast, 75 leases for 6,366.471 hectares were posted, and 70 for 6,105.319 were sold, for a total value per hectare of $1,017.44.
In the Lloydminster area, the total bonus received was $247,394.58, an average of $191.51 per hectare. Ten leases for 1,278.44 hectares were posted, and all 10 were sold.
The highest bonus bid received on a lease in the Lloydminster area was $110,574.54, an average of $213.79 per hectare, for a 517.211-hectare area. This lease was awarded to Millennium Land (555) Ltd., and is located approximately 16 kilometres east of Unity.
The highest bid on a per-hectare basis was $817.71 for a 16.118-hectare lease located 30 kilometres west of Turtleford. This was awarded to Millennium Land (555) Ltd. as well, and is within the Tangleflags East McLaren Oil Pool.
In the Kindersley-Kerrobert area, the total bonus received was $38,635.13, an average of $147.29 per hectare. Six leases encompassing 863.396 hectares were posted, and two for 262.301 were sold.
The highest bonus bid and dollars per hectare received on a lease in this area was $20,157.66, or $1,242 per hectare. The 16.23-hectare lease was awarded to Heartland Oil Corp., and is located 25 kilometres west of Major, north of the North Hoosier Viking Gas Pool.
In the Swift Current area, the total bonus received was $22,392.01, an average of $115.73 per hectare. Two leases were posted for 193.477 hectares, and both were sold.
The highest bonus bid and dollars per hectare received on a lease was $14,392.01, or $233.17 per hectare. This 64.489-hectare lease was awarded to Millennium Land (333) Ltd., and is located 12 kilometres northwest of Gull Lake, adjacent to the North Premier Upper Shaunavon Oil Pool.
The next sale will be held on Oct. 4.