February 04, 2021

$251,672.11 in Revenue Generated in February Oil and Gas Public Offering

The Government of Saskatchewan held the February Crown petroleum and natural gas public offering on Tuesday, which generated $251,672.11 in revenue for the province.  This is the last of six oil and gas public offerings for the 2020-21 fiscal year and brings cumulative earnings to $6,482,213.75.

The Lloydminster area brought in $113,947.41 for two parcels totaling 388.504 hectares, while the Estevan area brought in $111,102.09 for five parcels totalling 518.004 hectares.

The highest bonus bid received on a parcel in this offering was $100,735.72 for a lease in the Lloydminster area, totalling 129.502 hectares.  This was also the highest bid on a dollar per hectare basis at $777.87 per hectare.  This lease was awarded to Soo Lone Resource Group Ltd. and is prospective for heavy oil in the Mannville Group.

The scheduled date for the next public offering is April 6, 2021.