Quiet total posted during August oil and gas offering
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.