REGINA — The Government of Saskatchewan has launched and completed its first-ever helium and associated gases Crown public offering, held on June 22.
According to Sask. Energy and Resources, rising demand for helium and natural hydrogen rights led the Ministry of Energy and Resources to introduce a public offering system similar to existing processes used for Crown petroleum and natural gas, potash and lithium from brine.
The June 22, offering raised $15.9 million for the province, with Millennium Land Ltd. acquiring all 15 helium and associated gases permits, totaling more than 267,334 hectares. The highest overall bid was for $2.39 million for a parcel southwest of Regina. The permits grant the holder exclusive rights to explore for helium, natural hydrogen and other associated gases in Southern Saskatchewan for a six-year term.
The Ministry of Energy and Resources expects to hold two more public offerings this fiscal year, one in late August and the other in the Fall, creating additional opportunities for companies to acquire helium and associated gases mineral rights.
Saskatchewan is Canada's largest helium producer, supplying roughly three per cent of global demand. Through the Helium Action Plan, the province is working to increase production to 10 per cent of the world's helium by 2030. The province also has natural hydrogen potential, with recent exploration activity highlighting strong interest and development opportunities.
