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By Jaryn Vecchio

Revenue for the Province

Around $1.4M raised through oil and gas leases in Lloydminster area

Aug 10, 2023 | 2:02 PM

Oil and gas companies have bought up thousands of hectares of land around Lloydminster.

The Government of Saskatchewan held a public offering on Tuesday for 111 different parcels of land across the province with 92 being leased out.

Sixteen of these parcels totaling over 2,900 hectares were in the Lloydminster area, bringing in nearly $1.4 million.

Back in April, 36 parcels of land around Lloydminster were leased for around $3.3 million. Fast forward two months and 26 leases brought in over $1.7 million.

During this recent public offering, the Estevan area saw the most land leased out as 70 applications were approved bringing in over $9 million. Three exploration licences were also given the green light which contributed to the funds raised.

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The Kindersley area brought in around $6.2 million through just two leases and one exploration licence. The highest bid was for one of the two leases as ISH Energy Ltd spent nearly $6.2 million on it.

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Jaryn.Vecchio@pattisonmedia.com

On Twitter: @princealbertnow