The latest public offering of Crown petroleum and natural gas dispositions wrapped up on Tuesday. The sale, the first for the 2022-23 fiscal year, generated over $19 million in revenue for the province. The dollar value of bids received in this public offering exceeded the total for all of the 2021-22 fiscal year, which was $14,988,127.34.
The Weyburn and Estevan area saw $17,316,048.51 in bids being received, an average of $1,363.21 per hectare. This was more than triple the amount received in the offering in February.
The highest bid on a lease was $1,572,333.06 for a 64.656-hectare lease five kilometres south of Lampman, in the Steelman Frobisher Beds Oil Pool. The lease was awarded to Mammoth Land Services Ltd. This lease was also the highest bid per hectare in the province at $24,318.44.
There was one exploration license made available in the Weyburn and Estevan areas. The 812.057-hectare licence, located 21 kilometres north of Stoughton, was awarded to Prairie Land & Investment Services.
In all, there were 177 leases posted in the Weyburn and Estevan area, with 142 sold.
Across the province, there were 208 parcels offered, with 168 receiving acceptable bids. Four of the parcels received bids that were rejected as unacceptable after a technical review, while the other 35 parcels received no bids at all.
The next sale of Crown petroleum and natural gas rights is scheduled for June 7th.