REGINA - The southeast region was the catalyst for interest during the Government of Saskatchewan's Crown petroleum and natural gas rights public offering, held on Aug. 8.
The sale raised nearly $16.69 million for the province's coffers. Of the 106 leases posted, 88 received acceptable bids, bringing in more than $7.5 million. They covered 10,445 hectares and the province received $718.29 per hectare.
Four of the six licences posted were sold, with a total value of nearly $9.19 million for 13,552 hectares, or $790.92 per hectare.
The southeast region brought in a little more than $9.02 million for 70 leases and three exploration licences sold, totalling 9,146.727 hectares. The 70 leases generated slightly more than $6 million, or $888.86 per hectare for the 6,757.249 hectares; while the licences brought in more than $3.01 million, or $1,262.14 per hectare, for 2,389.478 hectares.
There were 78 leases and four licences posted.
The highest bonus bid and dollars per hectare received on an exploration licence in this area was more than $2.51 million, or $3,534.77 per hectare. Cougar Creek Land Ltd. was awarded this 710.557-hectare licence located 13.5 kilometres south of Radville and adjacent to the Skinner Lake Ratcliffe Oil Pool.
The highest bonus bid and dollars per hectare received on a lease in this area was $1.43 million, or $11,040.85 per hectare. This 129.519-hectare lease was awarded to Hummingbird Energy Inc., and is located 9.5 kilometres southeast of Lampman, within the Steelman Frobisher Beds Oil Pool.
The Kindersley area generated more than $6.27 million for two leases and one exploration licence encompassing 10,005.237 hectares, or $626.98 per hectare.
ISH Energy Ltd. bid more than $6.17 million, or $668.88 per hectare, for a 9,226.194-hectare exploration licence located four kilometres northwest of Eatonia, near the Laporte Basal Mannville Sand Oil Pool and the Mantario Â鶹ÊÓƵ Basal Mannville Sand Oil Pool. This was the highest bonus bid and highest dollars per hectare received on a parcel in this area.
The highest bonus bid received on a lease in this area was $85,566.58, an average of $325.15 per hectare, for a 260.724-hectare lease located 31 kilometres northeast of Kerrobert and nine kilometres north of the Kelfield Mannville Sand Oil Pool. Millenium Land (555) Ltd. was the successful bidder.
The Lloydminster area brought in more than $1.39 million for 16 leases totalling 2,908.935 hectares, or $479.42 per hectare. A total of 25 leases and one licence were posted.
The highest bonus bid received on a parcel in this area was $297,966.05, or $655 per hectare. This 454.91-hectare lease is located 10 kilometres west of Cut Knife and adjacent to the Baldwinton Sparky Sand Oil Pool. This lease was awarded to Millennium Land Ltd.
The highest dollar per hectare received on a lease in the area was $1,261.99 per hectare or $20.819.30 in total. This 16.101-hectare lease is located 6 1/2 kilometres northeast of Maidstone, near the Golden Lake Â鶹ÊÓƵ Mannville Sand Oil Pool. Millennium was also the successful bidder.
After three of six public offerings this fiscal year, the province has received more than $37.18 million in revenue. This exceeds the $19.4 million that was budgeted for the entire 2023-24 fiscal year.
The next scheduled date for a public offering in Saskatchewan is Oct. 3.
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