Oil and Gas public offerings once again bring more revenues than last year

2022 is looking like a stronger year than the previous for oil and gas offerings as the latest June offering came in at $2,934,410.42 in revenue.

The last public offering back in April generated close to 10x more in revenue than the previous year's and this latest one generated $2.4 million more.

The Estevan area saw the most interest, bringing in $2,645,873.18 for 38 parcels covering 4,649.346 hectares

Of the 70 parcels posted for this offering, 53 received acceptable bids which covered 6,331.925 hectares. The average bonus bid was $463.43 per hectare with the highest acceptable bid at $6,180.00 per hectare.

An exploration license posted in the Estevan area received a bid of $602,204.02. 

The June sale is the second of six oil and gas public offerings scheduled for the 2022-23 fiscal year. The next sale is scheduled for August 9, which will have 93 leases covering 8,702 hectares.