Oil pumps are working on the oil field in the evening under night sky with stars. - Stock Photo

Bids in the Lloydminster area topped every other region at Saskatchewan’s latest Crown oil and gas land sale, bringing in about $11.4 million.

The province’s fourth public offering of the fiscal year was held Oct. 6. It raised more than $29 million in total, the Government of Saskatchewan said in a news release.

Lloydminster-area bidding generated $11,366,578. That is about 39 per cent of the total.

The Estevan area followed closely at $10,033,965. Swift Current-area bids brought in $5,821,007, while the Kindersley area added $1,909,781.

The province accepted bids on 75 parcels covering 22,350 hectares. They include 69 leases and six exploration licences.

The six licences accounted for $19,829,283 of the total. Two were in the Estevan area and three were in the Swift Current area. The remaining licence was in the Lloydminster area.

The top licence bid was $9,995,200. Scout Energy Ltd. won the 2,324-hectare licence, which sits east of St. Walburg.

The top lease bid was $801,000. Hummingbird Energy Inc. won the 64-hectare lease, northeast of North Portal.

Leases run up to five years and give the holder the right to drill for and produce oil and natural gas. Exploration licences run two to five years in less-developed areas. They allow exploration and future production.

The province said oil and gas prices, land availability, geological and technological limits and market conditions all affect bidding.

The next offering is scheduled for Dec. 1. Details are on the province’s Schedule of Public Offerings page.