Turning on the taps: oil, gas land sales up
Saskatchewan hasn’t been making much on drilling rights these past few years – until now.
According to the Ministry of Economy, June’s public offering of petroleum and natural gas rights has raised $22.8 million dollars – the largest revenue for a single public offering in nearly three years – and speak to the “strong interest” in the area prospective for heavy oil northeast of Lloydminster.
On Gormley Thursday, Energy and Resources Minister Dustin Duncan said the rights go to Millenium Land Ltd. for land near Midale, the community southeast of Weyburn, as well as in the St. Walburg area near Lloydminster.
The Ministry of Economy said Millenium bid $4,002,780 to acquire a 1,327-hectare exploration licence located southwest of Midale.