The most recent public offering of Crown petroleum and natural gas rights was held Tuesday. The sale, which saw 152 leases across the province and 5 licenses up for bid, brought in $11,048,882 in revenue for the provincial government. This was down by $5.6 million from the sale that was held in August.
Of the 152 leases that were posted, 104 were sold, and three of the available licenses were sold. The average bid per hectare for the leases was $483.03 and $823.00 for the licenses.
In the southeast, there were 56 leases up for bid, and 47 of them were sold for a total of $2,516,328.95. The highest bid received on a lease was for a 228.559-hectare lease two kilometres north of Oxbow, located in the Alameda Midale Oil Pool. This lease was awarded to Metropolitan Resources for $450,288.
The highest amount paid per hectare in the southeast was $3,153.15 for a 33.3-hectare lease 23 kilometres southwest of Stoughton. The total price for the bid, was was from ROK Resources, was $105,000. This was also the highest dollars per acre in the province
The highest bid in the province was for an exploration license near the North Hoosier Basal Mannville Sand Oil Pool, in the Kindersley area. The bid, from Millenium Land, was $4,244,502.88 for a 2,788.785-hectare parcel.
Through four public offerings this fiscal year, the province has raised $48,233,785.29 in revenue. This is an increase of 41 percent from the previous year.
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