The December sale of Saskatchewan Crown oil and natural gas rights generated $9.6 million in revenue, down from the $19.4 million raised in the previous sale.
One lease south of Wilkie in the Lloydminster area received a bonus bid of about $1.64 million for 259 hectares in the Dec. 5. sale.
This lease was purchased by Stomp Energy Ltd. and is prospective for oil in the Mannville Group formation.
Stomp Energy spent approximately $1.7 million to acquire two lease parcels.
The highest dollar per hectare in the Lloyd area was received from Windfall Resources Ltd, who paid about $13,666 a hectare for a 16.188 hectare parcel located adjacent to the Dee Valley Mannville Sands Oil Pools, 10 kilometres northeast of Maidstone.
Dee Valley is the site of a new 10,000 barrels per day thermal heavy oil plant being built by Husky Energy.
The busy southeast region of the province led the public offerings with 80 leases awarded, consisting of about 6,574 hectares sold for a total of approximately $5 million.
With a sixth and final sale still remaining for the 2017-18 fiscal year, the total revenue is currently $61 million, above the previous fiscal year end total of $50 million.
“Saskatchewan’s favourable policy and operating environment provides the industry with the kind of stability it seeks,” said Energy and Resources Minister Nancy Heppner.
“Drilling activity, oil and gas related revenue, and industry investments in new exploration and development are all trending upward in Saskatchewan for 2017.”
The next public offering of petroleum and natural gas rights will be held on Feb 6, 2018.
The first of two December land sales in Alberta generated $11.4 million in revenue with the second sale to be held on Dec. 20.