Brian Zinchuk is editor and owner of Pipeline Online
A $16 million Crown land sale was punctuated by a large cheque penned for a singular exploration license in west central Saskatchewan that accounted for over a third of the money that changed hands.
There was a major development in land sales in the August Crown land sale in the Kindersley area. You would probably have to go as far back as 2008 to see a single exploration parcel go for over $6 million in this province, but that’s exactly what happened. ISH Energy Ltd. bid $6,171,217, or $669 per hectare for a 9,226 hectare exploration licence located four kilometres northwest of Eatonia, near the Laporte Basal Mannville Sand Oil Pool and the Mantario South Basal Mannville Sand Oil Pool. This is the highest bonus bid and highest dollars per hectare received on a parcel in west central Saskatchewan.
The Government of Saskatchewan’s Crown petroleum and natural gas public offering held on Tuesday, August 8, 2023, raised $16,689,772 for the province. After three of six public offerings this fiscal year, the province has received $37,183,902.32 in revenue. This greatly exceeds the $19.4 million that was budgeted for the entire 2023-24 fiscal year.
Of the 111 parcels posted, 92 parcels received acceptable bids. These bids covered 22,061 hectares.
Indeed, this land sale marked a notable return of exploration licenses.
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The Estevan area brought in $9,022,070.38 for 70 leases and three exploration licences totaling 9,146.727 hectares.
The Kindersley area brought in $6,273,105 for two leases and one exploration licence totaling 10,005 hectares. That was an average of $627/hectare. This compares to $3,651,265, an average of $558/hectare at the last offering.
The highest bonus bid received on a lease in this area was $85,557, an average of $328 per hectare. This 261 hectare lease is located 31 kilometres northeast of Kerrobert and nine kilometres north of the Kelfield Mannville Sand Oil Pool. Millennium Land (555) Ltd. was the successful bidder.
The Lloydminster area brought in $1,394,596 for 16 leases totaling 2,909 hectares. The total bonus received in this area was $1,394,596, an average of $479/hectare. This compares to $1,725,264, an average of $237/hectare at the last offering.
The highest bonus bid received on a parcel in this area was $297,966, or $655 per hectare. This 454.910 hectare lease is located 10 kilometres west of Cut Knife and adjacent to the Baldwinton Sparky Sand Oil Pool. This lease was awarded to Millennium Land Ltd.
The highest dollars per hectare received on a lease in this area was $1,262 per hectare, or $20,319 in total. This 16 hectare lease is located 6.5 kilometres northeast of Maidstone, near the Golden Lake South Mannville Sand Oil Pool. The successful bidder was Millennium Land Ltd.
In southeast Saskatchewan, the highest dollars per hectare received in this offering is $11,041/hectare. This 130-hectare lease was awarded to Hummingbird Energy Inc. and is located located 9.5 kilometres southeast of Lampman, within the Steelman Frobisher Beds Oil Pool.
The highest bonus bid and dollars per hectare received on an exploration licence in this area was $2,511,656, or $3,535 per hectare. Cougar Creek Land Ltd. was awarded this 711 hectare licence located 13.5 kilometres south of Radville and adjacent to the Skinner Lake Ratcliffe Oil Pool.
There were no parcels posted in southwest Saskatchewan in this sale. The next scheduled date for a public offering in Saskatchewan is October 3, 2023.
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