REGINA —
The Government of Saskatchewan's second Crown oil and natural gas public offering of the 2025-26 fiscal year, held June 2, generated $17,747,731 in revenue, according to a June 5 government news release.
Sixty-four leases were posted, encompassing 26,382.089 hectares. Fifty-six were sold, covering 24,065.466 hectares, and bringing in $9,385,493, or $390 per hectare.
Five licences covering 4,767.980 hectares were available. All five were sold, generating $8,362,238, or $1,753.83 per hectare.
The southeast region once again led the way, bringing in $10,464,283. All parcels available in the southeast were gobbled up, with the 30 leases covering 18,108.233 hectares bringing in $4,547,411, or $251.12 per hectare. The three licences, which covered 3,082.576 hectares, brought in $5,916,871, or $1,919.46 per hectare.
The highest bonus bid received on an exploration licence in this offering was $2,453,205, an average of $2,531.96 per hectare. The 968.896-hectare licence was awarded to Millennium Land (222) Ltd. and is located 10 kilometres south of Estevan, between the Roche Percee Bakken Sand Oil Pool and the Torquay Main Torquay Oil Pool.
The highest bonus bid received on a lease in this area was $328,927, an average of $1,702.84 per hectare. This 193.164-hectare lease was awarded to Saturn Oil & Gas and is located nine kilometres southwest of Oxbow, adjacent to the Pinto East Midale Beds Oil Pool.
The highest dollars per hectare received on a lease in this offering was $3,308.44 per hectare, a total of $212,061. The 64.097-hectare lease was awarded to Villanova Energy Inc. and is located nine kilometres southeast of Oxbow, within the Glen Ewen Frobisher Beds Oil Pool.
The total bonus received in the Kindersley area was $3,910,411. Thirteen of 18 leases available received acceptable bids, bringing in $1,465,045 for 3,610 hectares, or $405.76 per hectare.
Both available leases were purchased. They covered a total of 1,685.404 hectares and were sold for $2,445,366, or $1,450.91 per hectare.
The highest bonus bid and dollars per hectare received on a licence in this area was $2,232,423, an average of $1,565.87 per hectare. This 1,425.676-hectare licence was awarded to Millennium Land (444) Ltd. and is located 20 kilometres south of Wilkie, partially within the Reford Waseca Sand Oil Pool.
The highest bonus bid and dollars per hectare received on a lease in the area was $456,006, an average of $878.89 per hectare. The 518.844-hectare lease was awarded to Martex Energy Corp. and is located 16 kilometres west of Luseland.
The total bonus received in the Lloydminster area was $3,255,823. Of the 13 parcels available, 10 were purchased, fetching $3,255,823 for 2,151.900 hectares, or $1,513 per hectare.
The highest bonus bid received on a lease in this offering was $876,340, an average of $3,395.97 per hectare. The 258.053-hectare lease was awarded to Prairie Land & Investment Services Ltd. and is located 12 kilometres south of Wilkie, partially within the Reford Waseca Sand Oil Pool.
The highest dollars per hectare received on a lease in the offering was $4,557.61, a total of $73,815. The 16.196-hectare lease was awarded to Synergy Lands Services Ltd. and is located 20 kilometres east of Lloydminster, within the Big Gully North Lloydminster Sand Oil Pool.
The total bonus received in the Swift Current area was $117,213.05. All three leases available were sold, generating $117,213.05 for 194.740 hectares, or $601.90 per hectare.
The three leases posted in the Swift Current area are located south of Gull Lake within or adjacent to the Butte Upper Shaunavon, Covington West Upper Shaunavon and Gardenhead Upper Shaunavon Oil Pools.
The highest bonus bid and dollars per hectare received on a lease in this area was $70,878, an average of $729.25 per hectare. The 97.193-hectare lease was awarded to Potts Petroleum Inc. and Supreme Energy Inc., who each have a 50 per cent stake.
Seventeen oil shale leases posted south of Hudson Bay received a combined total of $3,000,003. These leases were awarded to Burgess Canadian Resources ULC.
The government says leases are offered with five-year terms and are issued to drill for and produce oil or natural gas. Exploration licences have terms of two to five years and are issued in less developed areas for exploration and production. Several factors affect public offering activity, including oil and gas prices, land availability, various market conditions, and geological and technological constraints.
The next offering is scheduled for Aug.11.
