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Lloydminster generates over $100k in latest oil and gas public offering

Lloydminster land sales brought in almost half of the money generated in Saskatchewan’s latest oil and gas offering.

The Saskatchewan Government opened the February Crown petroleum and natural gas public offering on Tuesday. For two parcels of land in the area, Lloydminster brought in $113,947.41, totalling just over 388 and a half hectares.

The Border City also brought in the highest bonus bid, in a lease awarded to the Soo Lone Resource Group and is prospective for heavy oil in the Mannville Group.

In total, the government received $100,735.72 for the lease, totalling 129.502 hectares. This was also the highest bid on a dollar per hectare basis at $777.87 per hectare.

The Estavan area also brought in $111,102.09 for five parcels totalling just over 518 hectares.

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This was the sixth and final oil and gas public offerings for the 2020-21 fiscal year, bringing in $251,672.11 for cumulative earnings of $6,482,213.75 on the year.

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