The Government of Saskatchewan’s first oil and gas public offering of the 2025-26 fiscal year raised nearly $12 million. The auction, held on April 1, brought in $11,983,131.25 for the province, according to the Ministry of Energy and Resources.
Read more: Oil/gas offering nets Sask. over $11 million in profit
Bidders submitted offers on 47 of the 54 parcels available. In total, the sales covered 22,340.571 hectares across Estevan, Kindersley, Lloydminster and Swift Current.
The Estevan area generated the most revenue, bringing in $8,574,009.92. This included 26 leases and two exploration licences covering 5,902.150 hectares.
Lloydminster’s parcels brought in $1,244,042.55, the third-highest total of the four regions. Metropolitan Resources Inc. made the highest per-hectare bid for an exploration licence in the area. The company paid $715.11 per hectare, spending $833,156.78 on a 1,165.075-hectare licence southeast of Maidstone.
The Kindersley area raised $1,715,310.96. Elk Run Resources Ltd. placed the top bid for an exploration licence, paying $856,917.03 for 4,991.362 hectares southwest of Eatonia.
Swift Current’s parcels brought in $449,767.82. Saturn Oil and Gas Inc. placed the highest bid in the region, spending $371,643.75.
Synergy Land Services Ltd. made the overall highest bid in the offering. The company paid $1,533,771.82 for a 226.938-hectare lease in the Estevan area, southeast of Lampman. This also marked the highest per-hectare bid at $6,758.55.
Public offering activity depends on factors like oil and gas prices, land availability, and market conditions, said the Ministry of Energy and Resources.
The next oil and gas public offering will take place later this year. More details are available on the province’s Schedule of Public Offerings webpage.
Read more: Strong oil sector boosts bonspiel
