Estevan area leads the way for June's oil and gas public offering

The June public offering of Crown petroleum and natural gas rights that was held Tuesday generated $442,125.39 in revenue for the province of Saskatchewan.

This is the second of six oil and gas public offerings, bringing the current 2020-21 fiscal year total to $2,165,850.24.

article continues below

The Estevan area brought in the majority of the bid activity, generating $374,388.50 for 25 parcels of lands totalling 2,644.690 hectares.

The Lloydminster area also brought in $50,545.83 for five leases totalling 1,146.816 hectares, while the Kindersley area brought in $17,191.06 for two leases totalling 520.468 hectares.

The highest bonus bid received in this offering was $111,112.00, or $1,724.70 per hectare, for a 64.424-hectare parcel north of Lampman.  This lease was purchased by Millennium Land (444) Ltd. and is prospective for oil in the Midale Beds and Frobisher Beds of the Madison Group.

The scheduled date for the next public offering is August 11, 2020.


© Copyright Pipeline News


NOTE: To post a comment you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Google+ You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Pipeline News welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

comments powered by Disqus