Over $10 million in provincial revenue was raised from the Kindersley area in February’s public offering of Crown petroleum and natural gas rights.
The offering held on Tuesday was the final one for the 2018-19 fiscal year and brought the total to $57.5 million, which is $6.4 million less than what was projected for the 2018-19 budget forecast. However, the average price per hectare saw an increase of $280 from the year previous, moving from $316 per hectare to $596 per hectare.
In Alberta, the price per hectare averaged $282, in which the Saskatchewan government proclaims illustrates the premium being placed on Saskatchewan’s oil and gas resources.
Roughly half of the total $10.2 million was raised through five exploration licences located west of Kerrobert, they sold for just over $5.6 million, while the next highest were for three exploration licences southwest of Major which were sold to Millennium Land Ltd. For just under $3.5 million.
The highest bonus bid for the offering belonged to Rockwell Resources Inc. who purchased an exploration licence northeast of Major for $2.1 million.
258 hectares of land northeast of Marengo raised the largest bonus bid for lease, bringing in $816,771.02. Two other parcels totalling 64 acres located northeast of Stoughton were also purchased during the sixth public offering of the fiscal year.
The 2019-20 fiscal year’s first public offering is scheduled for April 9, 2019.