Sask petroleum leases raise 3.1 million dollars in latest offering


The latest Saskatchewan petroleum and natural gas public offering raised 3.1 million dollars in revenue for the province.

This is the final public offering for the fiscal year, bringing the total annual amount to 49.2 million dollars.

Of the 54 parcels posted, 48 had acceptable bids covering over 16 thousand acres.

The average bonus bid was 186 dollars per acre, with the highest bid at 12 hundred 62 dollars per acre.

The highest bonus bid on a lease is 270 thousand dollars for a 608 acre lease southwest of Lashburn, going to Synergy Land Services.

Overall, the Lloydminster area saw the most interest, bringing in almost 1.8 million dollars for 12 leases and four exploration licenses, totaling 97 hundred acres.

The Estevan area also brought in almost one million dollars for 26 leases totaling 45 hundred acres.

An exploration license, totaling almost 15 hundred acres, received a bonus bid of 612 thousand dollars or 420 dollars an acre.

This license is located northeast of Lloydminster and within the Northminster Sparky Oil Pool.

The next petroleum lease sale is set for April 4th.


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