Oil and Gas Public Offering Raises $3 Million

Media Release, Gov't of SK

February 07, 2025

key points from this story:

• February 4 oil and gas offering raised $3,039,589.20
• Estevan area generated most financial interest
• 25 out of 29 parcels received acceptable bids
• Millennium Lands made highest bonus bid
• Sixth and final offering for 2024-25 fiscal year
• Total raised for fiscal year: $51,814,614.76

The Government of Saskatchewan's Crown oil and natural gas public offering, held on Tuesday, February 4, 2025, raised $3,039,589.20 for the province, with the Estevan area generating most of the revenue. Twenty-nine parcels were put up for sale in this offering and 25 parcels received acceptable bids, covering an area of 2,753.836 hectares.

In the southeast, the Estevan area generated the most financial interest, bringing in $2,747,969.25 for 16 leases totalling 1,684.452 hectares. The Lloydminster area generated $156,195.20 in bonus bids, while the Kindersley area generated $135,424.75.

Millennium Lands (111) Ltd. made the highest bonus bid and dollars-per-hectare bid, $997,962.23, an average of $6,158.55 per hectare. This was for a 162.045-hectare lease in the Estevan Area, northeast of Midale.

This is the sixth and final oil and gas public offering for the 2024-25 fiscal year, over which time the Government of Saskatchewan has raised $51,814,614.76. Several factors affect public offering activity, including changes in oil and gas prices, land availability, geological and technological constraints and various market conditions.

For more information visit saskatchewan.ca