REGINA — The Government of Saskatchewan's first Crown oil and natural gas public offering of the 2026-27 fiscal year, held April 7, generated $12,835,947 in revenue, according to a government news release issued April 10.
According to information from the Ministry of Energy and Resources, among the 104 leases posted, 86 received acceptable bids, covering 13,864.816 hectares and bringing in $11,229,521, or $809.93 per hectare.
The one licence available, covering 6,859.206 hectares, sold for $1,606,426, or $234.20 per hectare.
According to the ministry, the southeast region led the way with $5,949,771, an average of $2,098.38 per hectare for the 2,835.418 hectares sold. All 38 leases available were purchased.
The highest bonus bid received on a parcel in this area, the ministry said, was $1,191,448, an average of $4,590.37 per hectare. This 259.554-hectare lease was awarded to West Lake Energy Corp. and is located four kilometres northwest of Frobisher, within the Steelman Frobisher Oil Pool.
The highest dollars per hectare received in the region, and the province, was $12,150, for a 32.222-hectare parcel 17 kilometres east of Lampman, within the Steelman Frobisher Oil Pool. Tundra Oil & Gas paid $391,497 for the parcel.
The Lloydminster area generated $4,531,088, the ministry said, an average of $623.06/hectare for the 7,272.356 hectares sold. Thirty-eight of 51 available leases were purchased.
The top-selling leases in the Lloydminster area, according to the ministry, were two located nine kilometres east of St. Walburg. Each received a bid of $1,223,809. One lease covered 515.288 hectares while the other encompassed 515.216 hectares. Both were awarded to Millennium Land Ltd.
The ministry reported the total bonus received in the Kindersley area was $2,267,478, an average of $269.49 per hectare for 8,413.974 hectares.
According to the ministry, even of the 12 leases available were sold, bringing in $661,052 for land covering 1,554.768, or $425.18 per hectare.
The highest bonus bid and dollars per hectare received on a lease in this area was $286,418, an average of $1,101.89 per hectare. The ministry reported the 259.934-hectare lease was awarded to Millennium Land (111) Ltd. and is located 19 kilometres northeast of Kerrobert.
The one licence posted in the province for the sale was in the Kindersley area, The ministry said it was awarded to Whispering Hills Resources Ltd. and is located 20 kilometres west of Eatonia.
According to the ministry, the total bonus received in the Swift Current area was $87,609, an average of $39.78 per hectare for the 2,202.274 hectares sold. All three leases were sold.
The ministry said the highest bonus bid received on a lease in this area is $37,386, an average of $36.02 per hectare. This 1,037.946-hectare lease was awarded to Durham Creek Energy Ltd. and is located 23 kilometres south of Shaunavon, near the Eastend Shaunavon Oil Pool.
The highest dollars per hectare received on a lease in this area, according to the ministry, is $100.01 for a total of $12,945. The 129.444-hectare lease was awarded to Durham Creek Energy Ltd. and is located near Frontier, within the Rapdan South Shaunavon Oil Pool.
The government notes leases are offered with five-year terms and are issued to drill for and produce oil or natural gas, while exploration licences have terms of two to five years and are issued in less developed areas for exploration and production.
"Several factors affect public offering activity, including oil and gas prices, land availability, geological and technological constraints, and various market conditions," the press release stated.
The next offering is scheduled for June 2.
