The Government of Saskatchewan’s October oil and natural gas public offering brought in $7.3 million, with the Kindersley region contributing over $1.3 million to the total. Held on Tuesday, October 29, 2024, the public offering saw 93 of 112 posted parcels successfully bid upon, covering 15,347 hectares province-wide.
While Estevan led with the highest revenue, generating $5.4 million from 57 parcels, Kindersley’s 21 leases covered 5,063 hectares and earned $1,325,636.53 in bids. The area remains a significant contributor in Saskatchewan’s energy sector, reflecting strong industry interest in its reserves.
Notably, Surge Energy Inc. placed the highest overall bid, offering $1.37 million ($5,285 per hectare) for a 259-hectare lease near Macoun in Estevan. Millennium Land (444) Ltd. acquired an exploration licence in the same area, securing 2,318 hectares for just over $407,000.
After four public offerings in this fiscal year, Saskatchewan has raised over $37 million in oil and gas revenues. The next public offering is scheduled for December 3, 2024, as part of the province’s six-offering annual cycle, using competitive bidding to allocate oil and gas dispositions.
For further information about oil and gas public offerings in Saskatchewan, visit the provincial government’s website.