The Lloydminster area earned more than $150,000 as part of the final crown oil and gas offering in the 2024-25 fiscal year.
In total, Saskatchewan’s latest Crown oil and gas public offering raised more than $3 million for the province.
The Feb. 4 sale brought in $3,039,589.20. According to a government release, most of the revenue came from the Estevan area.
The province put 29 parcels up for sale. However, bidders only placed acceptable offers on 25 parcels covering 2,753.836 hectares.
The Estevan area generated the most interest, bringing in $2,747,969.25. That revenue came from 16 leases covering 1,684.452 hectares.
The Lloydminster area generated $156,195.20 in bonus bids, while the Kindersley area brought in $135,424.75.
Millennium Lands (111) Ltd. placed the highest bid in the sale. The company paid $997,962.23 for a 162.045-hectare lease northeast of Midale, which works out to an average of $6,158.55 per hectare.
The government raised $51,814,614.76 through the six sales during the last fiscal year.
The province said many factors impact public offering results, including oil and gas prices, land availability and market conditions.
More information about public offerings is available at saskatchewan.ca.
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