First oil and gas offering of 2024 adds $15.4 million to Sask. coffers
The first oil and gas public offering of the year brought in more than $15 million for the Government of Saskatchewan.
The offering of 147 parcels on Tuesday raised $15,454,748.02. Of those offerings, 123 parcels covering just over 16,000 hectares received acceptable bids, the government said.
Offerings in the Estevan area generated the most money by far, with 84 leases and two exploration licences adding up to $13,795,439.18. Bids for 32 leases in the Lloydminster region brought in $1,425,234.16, while bids in the Kindersley area raised $234,074.68.
The highest bid – and the highest in terms of dollars per hectare – came from Hummingbird Energy Inc., which bid $2,200,000 for a 193.711-hectare lease prospective for oil in the Frobisher Beds northeast of Midale. That translates into $11,357.12 per hectare.
