February oil and gas public offering generates $251,672 in revenue

The Government of Saskatchewan held the February Crown petroleum and natural gas public offering on Tuesday, which generated $251,672 in revenue for the province, the government said in a press release Thursday.

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.

article continues below

The Lloydminster area brought in $113,947 for two parcels totaling 388.504 hectares, while the Estevan area brought in $111,102 for five parcels totalling 518.004 hectares.

The highest bonus bid received on a parcel in this offering was $100,735 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.  

© Copyright Pipeline News

Comments

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