Lloydminster and Estevan bring in $2.3 million in oil and gas land sales
A crude oil pump during a sunset. (Pixabay.com)
The Lloydminster and Estevan areas were the main focus in Saskatchewan’s public offering of Crown petroleum and natural gas rights.
The offering allows companies to bid for the rights to explore and drill provincial land for oil and natural gas.
Both areas brought in a total of $2.39 million in revenue for the province. Nine leases covering over 5,000 hectares of land in the Lloydminster area brought in over $1 million while 36 parcels of land covering 2,000 hectares in the Estevan area were sold at $1.3 million.
Millennium Land (111) Limited made the highest bid to have access to 970 hectares in the Lloydminster area for $400,000.
The next public offering is scheduled for October 6.