Quiet to­tal posted dur­ing Au­gust oil and gas of­fer­ing

The Southwest Booster - - FRONT PAGE -

It was an­other quiet petroleum and nat­u­ral gas public of­fer­ing in the South­west, with the re­gion again hav­ing few lease parcels up for grabs.

Saskatchewan’s Au­gust Crown Public Of­fer­ing sold all four lease parcels in the South­west at a cost of $93,333, or just over $303 per hectare. The top pur­chaser in the re­gion was Wind­fall Re­sources Ltd. who ac­quired three lease parcels at a cost of $70,299. Wind­fall Re­sources paid the re­gion’s top price for a sin­gle lease, ac­quir­ing a 64.75 hectare par­cel 25 kilo­me­tres north of Shau­navon in the No­tukeu Up­per Shau­navon Oil Pool at a cost of $40.100 ($619.31 per hectare).

The South­west has now failed to top the $1 mil­lion mark for 11 con­sec­u­tive sales. Dur­ing the first four sales this cal­en­dar year the South­west has gen­er­ated just $1.14 mil­lion in ac­tiv­ity, with the prov­ince re­al­iz­ing $28.39 mil­lion in in­ter­est.

The Kin­der­s­ley re­gion topped the prov­ince with $3.74 mil­lion in ac­tiv­ity when 79 of 90 parcels sold.

The Este­van area placed sec­ond with $2.69 mil­lion in in­ter­est af­ter 21 of 24 parcels avail­able were sold.

Just one of two parcels sold in the

Lloy­d­min­ster re­gion which placed last with $10,583 in bids.

The Pro­vin­cial sale gen­er­ated $6.5 mil­lion in ac­tiv­ity to rank as the sec­ond high­est sale dur­ing the 2018 cal­en­dar year. The June sale was the high­est this year at $15.6 mil­lion, with qui­eter sales in both April ($2.86 mil­lion) and Fe­bru­ary ($3.43 mil­lion).

The next public of­fer­ing of petroleum and nat­u­ral gas rights will be held on Oc­to­ber 2.

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