The Government of Saskatchewan's most recent petroleum and natural gas public offering, held on Tuesday, April 2, 2024, raised $15,454,748.02 in revenue for the province.
That's an increase from last year's April offerings, which received $11,113,459.75 for the province.
Of the 147 parcels posted for this sale, 123 parcels received acceptable bids, which covered 16,065.020 hectares. Six parcels received bids that were rejected as unacceptable after a technical review, and no bids were submitted for the remaining 18 parcels.
The Estevan area brought in the most revenue, with $13,795,439.18 for 84 leases and two exploration licenses covering 9,797.237 hectares.
The other two notable areas included Lloydminster which brought in $1,425,234.16, and Kindersley which generated $234,074.68 in revenue.
Hummingbird Energy Inc. made the highest bonus bid and highest dollars-per-hectare bid in this offering - $2,200,000 for a 193.711-hectare lease prospective for oil in the Frobisher Beds in the Estevan area, northeast of Midale. The bid works out to $11,357.12 per hectare.
The two exploration licenses in this offering were awarded to Crescent Point Energy Corp. One license totaling 1,416.372 hectares received a bid of $2,114,416.78, or $1,492.84 per hectare. The second license totaling 675.971 hectares received a bid of $1,009,116.55, also $1,492.84 per hectare.
These exploration licenses are located in the Estevan area, northeast of Lampman, and are prospective for oil in the Bakken Formation.
This is the first of six scheduled public offerings this fiscal year with the next scheduled date for a public offering in Saskatchewan being June 4, 2024.