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By Jaryn Vecchio

Revenue for the Province

Around $3.5 million raised through oil and gas leases in Lloydminster area

Dec 7, 2023 | 3:24 PM

More oil and gas leases have been sold in the Lloydminster area.

The Government of Saskatchewan held a public offering on Tuesday for 70 different parcels of land across the province with 40 being leased out.

Thirteen were in the Lloydminster area, covering more than 3,900 hectares of land. These bids ended up raising around $3.5 million. Three exploration licences also contributed to the total.

This is the fifth public offering this fiscal year with the first four raising around $11.8 million through bids in the area.

The Estevan area had the most interest this time around as 17 leases and one exploration licence, covering roughly 2,444 hectares, brought in nearly $11.3 million.

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The Kindersley area ended up generating roughly $2.4 million through three leases and three exploration licences.

Millennium Land Ltd. made the highest bid as they offered over $10 million for an exploration licence in the Estevan area.

Meanwhile, there’s only one more public offering being held this fiscal year. It’s scheduled to happen on Feb. 6, 2024.

Up for bid are 46 leases covering over 11,200 hectares and two exploration licences covering roughly 6,000 hectares.

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Jaryn.Vecchio@pattisonmedia.com

X: @princealbertnow