Southeast Saskatchewan attracted most of the attention in the most recent offering of Crown petroleum and natural gas rights. The sale was held on Tuesday and generated $1.876 million in revenue for the province.
The southeast corner of the province brought in $1.357 million of that revenue for 50 parcels that totalled 11,591 hectares. It was also where the highest bid was received, and the highest bid per hectare.
The highest bid, $171,885.71, was for a license located west of Radville that is prospective for oil in the Bakken Formation. The highest dollars per hectare was for a 44.99-hectare lease southwest of Stoughton. With a bid of $2,489.10 per hectare, the lease was awarded to Ferret Energy Limited. The lease is prospective for oil in the Frobisher Beds of the Madison Group.
This was the fourth of six public offerings scheduled for the fiscal year. The next sale is set to be held on December 7th.