Saskatchewan’s first Crown oil and gas public offering of the 2025-26 fiscal year has raised nearly $12 million, with all four bidding areas generating revenue.
The auction, held on April 1, brought in $11.98 million from the sale of 47 parcels covering 22,340 hectares. The Estevan area led the way, accounting for more than $8.5 million of the total revenue from 26 leases and two exploration licenses.
Synergy Land Services Ltd. made the highest bid of the sale, offering $1.53 million, or $6,758 per hectare, for a 227-hectare lease southeast of Lampman. The top bid for an exploration licence came from Elk Run Resources Ltd., which paid $856,917, or $171 per hectare, for nearly 5,000 hectares southwest of Eatonia in the Kindersley area.
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Metropolitan Resources Inc. submitted the highest per-hectare bid for an exploration licence, paying $715 per hectare for a 1,165-hectare parcel southeast of Maidstone in the Lloydminster area.
The Kindersley region generated $1.7 million in revenue, while the Lloydminster area brought in $1.2 million. Bidding in the Swift Current region totaled $449,767, with Saturn Oil and Gas Inc. making the highest offer at $371,643.
This was the first of six scheduled oil and gas public offerings for the fiscal year. The government said several factors influence bidding activity, including oil and gas prices, land availability, and market conditions.