REGINA — The Government of Saskatchewan says its latest Crown oil and natural gas public offering, held Dec. 2, attracted 89 bids for leases and exploration licences, and generated $7,484,935 in revenue.
According to a news release issued Dec. 5, the bids covered 17,875.984 hectares in all four bid areas of the province – Estevan, Lloydminster, Kindersley and Swift Current.
The southeast brought in the most revenue, $3,692,676, the government said, thanks to bids for two exploration licences and 43 leases totalling 3,502.081 hectares.
This area also saw the highest bid amount and the highest dollars-per-hectare bid on a parcel. Whitecap Resources Inc offered $1,047,040, or an average of $8,111 per hectare, for a 129.089-hectare lease southeast of Lampman.
Hummingbird Energy Inc. made the highest bid on an exploration licence. The company offered $233,000 for a 321.458-hectare lease east of Radville.
In the Lloydminster area, the press release noted bidding on 29 leases generated $1,886,404 for an area covering 6,797.617 hectares. Scout Energy Ltd. made the highest bid in the area, $777,861 for a 775.264-hectare parcel southeast of St. Walburg.
Bids submitted in the Swift Current area raised $947,848, the government said, while bids submitted in the Kindersley area raised $958,005.
This month's Crown oil and natural gas public offering was the fifth of the fiscal year, during which the province says it has raised $60,246,954 in revenue. The sixth and final offering of the fiscal year is scheduled for Feb. 3, 2026. It will feature 98 leases and two exploration licences covering 19,371.299 hectares.
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.
More to come.
