Southwest has back to back zero totals during petroleum and natural gas rights public offerings

For the first time in Southwest history the region has registered no activity during back-to-back public offerings of Crown petroleum and natural gas rights.

During the first public offering of 2019 on February 5, the Southwest did not register any activity. The Southwest was also quiet during the final sale of 2018 back on December 4, with no activity posted. Provide wide those two sales generated $30.3 million in bid activity.

In fact, during the last five offerings the Southwest has generated only $170,019 in activity, while provincial totals have reached approximately $54.5 million.

And while there were no parcels posted across the entire Southwest during both the December and January offerings, there are 12 parcels totalling 2,624.136 hectares which will be up for bids in the Southwest during the upcoming April 9 public offering.

During the February 5 offering, the Kindersley region attracted $7.79 million in activity though the sale of 19 of 34 available leases ($2.13 million), while all five available licences were sold at a cost of $5.65 million. The Estevan region produced $2.4 million in activity through the sale of 22 of 26 offered leases ($1.49 million), and two available licences sold for $906,000. There were no bids for any of the three licences posted in the Lloydminster region.

Saskatchewan’s $10.19 million in activity brings the 2018-2019 fiscal year cumulative total to $57.5 million. The province had forecasted $63.9 million in bonus bid activity in their spring budget.