The Government of Saskatchewan’s latest Crown oil and natural gas public offering was held Tuesday, bringing in approximately $3.04 million for the province, with the Estevan area generating the most revenue.
A total of 29 parcels were up for sale, with 25 receiving acceptable bids. The sales covered 2,754 hectares.
The Estevan area attracted the most financial interest, generating approximately $2.75 million for 16 leases covering 1,684 hectares.
Millennium Lands (111) Ltd. submitted the highest bonus bid and dollars-per-hectare bid, offering $997,962—an average of $6,159 per hectare—for a 162-hectare lease northeast of Midale.
The Lloydminster and Kindersley areas also saw interest. The Lloydminster area generated $156,195 in bonus bids, while Kindersley brought in $135,425.
This was the sixth and final oil and gas public offering for the 2024-25 fiscal year, during which the provincial government raised approximately $51.8 million.
Changes in oil and gas prices, land availability, geological and technological constraints, and various market conditions can affect public offering activity.