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06/08/2018
$15 Million Raised Through June Crown Land Sale

The latest numbers are in and the June public offering of Crown petroleum and natural gas rights raised over $15 Million in revenue for the province. This brings the cumulative total raised from two sales so far in the 2018-19 fiscal year to more than $18 Million. One exploration licence in Southeast Saskatchewan received a bonus bid of $10,511,566. This parcel was purchased by Stomp Energy Ltd. and is prospective for multiple targets including the Ratcliffe Beds of the Madison Group and the Bakken, Torquay, and Red River Formations. 40 parcels totalling 11,400 hectares were sold for $3,454,719 in the Kindersley area. These parcels are prospective for oil and gas in the Viking Formation, Mannville Group, and Bakken Formation. Cougar Creek Land Ltd. bid $608,948 to acquire a 243 hectare lease located south of Maidstone. This parcel is prospective for heavy oil in the Mannville Group. The next public offering of petroleum and natural gas rights will be held on August 14.

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