SK LAND: For Food or For Oil???

Re: SK LAND: For Food or For Oil???

Postby Oscar » Thu Dec 07, 2017 11:09 am

Public Offering Revenue Total Reaches $61 Million with One Sale Remaining

[ http://www.saskatchewan.ca/government/n ... /land-sale ]

Released on December 7, 2017

Driven largely by continued interest in Saskatchewan’s southeast region, the December public offering of Crown petroleum and natural gas rights on Tuesday posted revenue of $9.6 million.

With a sixth and final sale still remaining for the 2017-18 fiscal year, the total is currently $61 million, already above the previous fiscal year end total of $50 million.

“Saskatchewan’s favourable policy and operating environment provides the industry with the kind of stability it seeks,” Energy and Resources Minister Nancy Heppner said. “Drilling activity, oil and gas related revenue, and industry investments in new exploration and development are all trending upward in Saskatchewan for 2017. We will do our part to help sustain this growth.”

Southeast Saskatchewan remains a focus of significant industry attention with 80 leases awarded on Tuesday, consisting of 6,574.166 hectares and fetching $5,084,478.09. One lease south of Wilkie received a bonus bid of $1,642,015.97 for 259 hectares. This lease was purchased by STOMP Energy Ltd. and is prospective for oil in the Mannville Group.

Spartan Energy Ltd. bid $587,340.78 for a 129.5 hectare parcel south of Alameda. This parcel is prospective for oil in the Frobisher and Midale Beds of the Madison Group.

The next public offering of petroleum and natural gas rights will be held on February 6, 2018. -30-

For more information, contact:

Deb Young, Economy, Regina
Phone: 306-787-4765
Email: deb.young@gov.sk.ca
Oscar
Site Admin
 
Posts: 7726
Joined: Wed May 03, 2006 3:23 pm

Re: SK LAND: For Food or For Oil???

Postby Oscar » Thu Feb 08, 2018 9:10 am

TOTAL PUBLIC OFFERING REVENUE FOR 2017-18 FISCAL YEAR REACHES $65 MILLION

[ http://www.saskatchewan.ca/government/n ... ng-revenue ]

Released on February 8, 2018

Sustained interest in Saskatchewan’s southeast region generated the majority of revenue in the February public offering of Crown petroleum and natural gas rights on Tuesday, with the $3 million from that sale pushing the final total for the 2017-18 fiscal year to $65 million.

This total exceeds the previous fiscal year-end total of $50 million as industry activity and investment shows sustained signs of trending upward in the province.

“Saskatchewan is consistently a jurisdiction of choice for conventional producers looking for stability and solid returns,” Energy and Resources Minister Bronwyn Eyre said. “Increased drilling activity and industry investment indicate that one of our key economic sectors continues to gather momentum and stimulate growth in the province.”

Southeast Saskatchewan remained the focus of attention with 52 leases, consisting of 3,448.152 hectares, fetching $2,452,992.19. Spartan Energy Corp. bid $1,039,679.96 for 18 leases in southeast Saskatchewan totaling 1,295.206 hectares. One lease south of Carnduff received a bonus bid of $325,346.74 for 129.5 hectares. This lease was purchased by Spartan Energy Corp. and is prospective for oil in the Midale and Frobisher Beds of the Madison Group.

Saskatchewan’s oil and gas industry accounts for an estimated 15 per cent of the province’s total real Gross Domestic Product (GDP), and is the largest contributor among primary industries to provincial GDP.

In the Fraser Institute’s Annual Global Petroleum Survey for 2017, Saskatchewan ranked seventh out of 97 jurisdictions in the world in terms of overall attractiveness for oil and gas investment, and has consistently been among the top 10 jurisdictions over the past six iterations of the survey.

The next public offering of petroleum and natural gas rights will be held on April 10, 2018. -30-

For more information, contact:

Deb Young
ECON
Regina
Phone: 306-787-4765
Email: deb.young@gov.sk.ca
Oscar
Site Admin
 
Posts: 7726
Joined: Wed May 03, 2006 3:23 pm

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