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Saskatchewan oil and gas bids top $48.2 million in 2023

Offerings for petroleum and natural gas public exploration and leases are running 40 per cent ahead of last year
Saskatchewan pump jacks at work. |Greg Nikkel

Petroleum and natural gas public offering, held on October 3, raised more than $11 million for Saskatchewan’s coffers, as the bids continued to eclipse 2022.

Of the 157 parcels posted for this sale, 107 received acceptable bids. These covered 18,870 hectares.

The Kindersley area generated the most cashflow, bringing in $5.8 million for 20 leases and two exploration licenses totalling nearly 8,000  hectares.

Bids for leases and a license in the Lloydminster area brought in the next highest amount at $2.7 million. These bids were for 33 leases and one exploration licence totalling 7,222 hectares.

Acceptable bids in the southeast region generated $2.5 million for 47 leases covering 3,668 hectares.

After four public offerings in 2023, the province has received more than $48.2 million in revenue. At this time last year, offerings had raised $34.2 million.

The next scheduled public offering is December 5, 2023.