Saskatchewan’s first Crown oil and natural gas public offering of the 2026-27 fiscal year has raised nearly $13 million. The auction saw heavy activity in the Estevan and Lloydminster regions.
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The sale, held on April 7, generated $12,835,947 for the province. Companies placed successful bids on 87 parcels. These parcels cover more than 20,700 hectares across four major regions.
“The Government of Saskatchewan’s first Crown oil and natural gas public offering… generated $12,835,947 in revenue,” the province stated in a news release.
Regional Breakdown of Bids
The Estevan area led the province with $5.9 million in revenue. The Lloydminster area followed with $4.5 million in successful bids.
Other regional results included:
- Kindersley: $2.2 million in bids.
- Swift Current: $87,609 in bids.
Whispering Hills Resources Ltd. secured the highest single bid. The company paid $1.6 million for an exploration licence west of Eatonia.
In the Lloydminster area, Millennium Land Ltd. stood out. The company posted two identical bids of $1.2 million for leases east of St. Walburg.
Record Price Per Hectare
The Estevan area saw the highest price-per-hectare. Tundra Oil & Gas Limited paid $12,150 per hectare for a lease near Lampman. The total for that 32-hectare parcel reached $391,497.
Revenue from these sales depends on many factors. These include oil prices, land availability, and new technology. Crown leases usually last five years. Exploration licences range from two to five years.
The next provincial oil and gas public offering is set for June 2.
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