Saskatchewan oil and gas public offering brings in $10 million for Feb.

February’s public oil and gas offering added more than $10 million to the provincial government’s coffers.

The offering, held on Tuesday, raised a total of $10,042,112.71. A total of 44 bids were accepted, covering an area of 14,652 hectares.

The greatest interest was for offerings in the Estevan area, where 23 leases and an exploration licence raised $7,223,246.

In the Lloydminster area, 17 leases and one exploration licence brought in $1,916,571.

Two bids for leases in the Kindersley area generated just over $900,000.

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The highest bonus bid in the February offering came from Millennium Land (222) Ltd., which bid $5,055,882 on a 4,199-hectare licence south of Radville which the provincial government said is prospective for oil.

The highest bid in terms of dollars per hectare was awarded to Synergy Land Services Ltd. That bid was $216,170 for a 64.679-hectare lease near Kindersley, which adds up to $3,342.19 per hectare.

Five additional public offerings are expected in this fiscal year, with the next scheduled for April 2. That offering is to feature 145 leases and two exploration licences.

Public offerings during the 2023-24 fiscal year generated $75.5 million for the government.