Energy and Resources Minister Dustin Duncan officially announced new oil and gas tenure regulations in Saskatchewan on Thursday effective October 27, 2016, which replace four tenure regulations and implement the Crown Minerals Electronic Registry for oil and gas tenure in Saskatchewan.
Modernizing oil and gas tenure and addressing shortcomings in the regulations will provide certainty of tenure that is comparable to that in Alberta, Saskatchewan’s main competitor, simplify and reduce administrative burden and red tape, and ensure that Saskatchewan continues to provide a world-class oil and gas tenure regime.
“Oil and gas is key to Saskatchewan’s economic growth, and it is imperative that we modernize our services to be competitive,” Duncan said. “The shift to a self-service online oil and gas tenure registry was initiated in November 2015, and with implementation, the full potential of the electronic Integrated Resource Information System, IRIS, will be realized.”
Key changes in the new regulations:
Replacement of more than 20 service fees with a single application fee;
Electronic information in the registry prevails over hard-copy documents;
Providing regulation to manage defunct companies;
Payment by pre-authorized debit only; and
Improvements to tenure regulation that encourage exploration and development.
The four regulations that have been repealed and replaced by The Oil and Gas Tenure Registry Regulations are The Petroleum and Natural Gas Regulations, 1969, The Helium and Associated Gases Regulations, 1964, The Oil Shale Regulations, 1964, and The Lease of Spaces Regulations.