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By Jaryn Vecchio

Revenue for the Province

Oil & Gas companies purchase land around Lloydminster for $3.3M

Apr 6, 2023 | 11:41 AM

Thousands of acres of land around Lloydminster have been sold to different oil and gas companies.

The Government of Saskatchewan held a public offering on Tuesday for 147 different parcels of land across the province.

A total of 105 received bids, totaling over $11.1 million in revenue.

Nearly $3.3 million came from selling roughly 9,600 hectares in the Lloydminster area. Thirty-six leases were sold, while two exploration licences were approved.

Estevan had the most interest, as 50 leases were approved bringing in over $6.4 million.

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The highest bid on one lease was around $2.6 million, by Buffalo Hill Resources Ltd., for roughly 260 hectares of land near the Town of Midale.

An exploration licence for nearly 750 hectares of land near Maidstone went for over $1.1 million. This licence was awarded to Millennium Land Ltd.

The province’s next public offering is scheduled for Jun. 6, 2023.

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Jaryn.Vecchio@pattisonmedia.com

On Twitter: @princealbertnow