The Government of Saskatchewan's Crown petroleum and natural gas public offering held on Tuesday, February 7, has raised just over $3.1 million in revenue for Saskatchewan.
That was the final petroleum and natural gas public offering scheduled for the 2022-23 fiscal year, bringing the total amount of revenue for the year to $49,205,888.26.
That's an approximate 328% increase when compared to the funds brought in during the 2021-22 fiscal year, which came in at around $15 million.
Of the 54 parcels posted, 48 received acceptable bids. The average bonus bid was $466.09 per hectare, with the highest acceptable bid at $3,156.67 per hectare.
Overall, the Lloydminster area saw the most interest, bringing in just under $1.8 million for 12 leases and four exploration licenses. The Estevan area also brought in just under $1 million for 26 leases.
The next sale is scheduled for April 4, 2023.