June oil and gas public offering raises $442,125.39 in revenue

The June public offering of Crown petroleum and natural gas rights generated $442,125.39 in revenue for the province on Tuesday.

This is the second of six oil and gas public offering, bringing the total for the 2020-21 fiscal year to $2,165,850.24.

The majority of the bid activity was for the Estevan area, generating $374,388.50 for 25 parcels of lands totalling 2,644.690 hectares.

The Lloydminster area brought in $50,545.83 for five leases totalling 1,146.816 hectares, while the Kindersley area brought in $17,191.06 for two leases totalling 520.468 hectares.

The highest bonus bid received was $111,112.00, or $1,724.70 per hectare, for 64.424 hectares north of Lampman.

The next public offering is scheduled for August 11th.

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