October Oil and Gas Public Offering Adds $11.05 Million to Provincial Revenues

Released on October 5, 2023

The Government of Saskatchewan's Crown petroleum and natural gas public offering, held on Tuesday, October 3, 2023, has raised $11,049,882.97 for the province.

Of the 157 parcels posted for this sale, 107 parcels received acceptable bids. These bids covered 18,870.845 hectares.

The Kindersley area generated the most cashflow, bringing in $5,811,151.08 for 20 leases and two exploration licenses totalling 7,591.560 hectares.

Bids for leases and a license in the Lloydminster area brought in the next-highest amount, $2,703,203.64. These bids were for 33 leases and one exploration license totalling 7,222.166 hectares.

Acceptable bids in the Estevan area generated $2,516,328.95 for 47 leases covering 3,668.270 hectares.

The Swift Current area generated $19,199.30 in acceptable bids.

Millennium Land Ltd. made the highest bonus bid for a parcel - $4,244,502.88 for an exploration license on a 2,788.785 hectare property. The land is in the Kindersley area, west of Kerrobert.  

Regina-based ROK Resources Inc. submitted the highest dollars-per-hectare bid, $3,153.15 per hectare for a 33.3 hectare lease in the Estevan area, southwest of Stoughton.

After four of six public offerings this fiscal year, the province has received $48,233,785.29 in revenue. At this time last fiscal year, oil and gas public offerings had generated $34,188,370.54 in revenue.

The next scheduled date for a public offering in Saskatchewan is December 5, 2023.

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