REGINA — The Government of Saskatchewan’s latest Crown oil and natural gas rights public offering, held Feb. 3, generated $7,009,225 in revenue, with most of that coming from bids in southern Saskatchewan.
The offering was the final one of the 2025-26 fiscal year, and it received 90 successful bids covering a total area of 16,911.832 hectares.
The Estevan area brought in $3,456,833 for one exploration licence and 24 leases totalling 4,189.7 hectares. The Swift Current area generated $2,101,648 for 24 leases totalling 5,446.066 hectares.
Cougar Creek Land Ltd. made the highest bid for an exploration licence, offering $1,667,888 for an average of $853.43 per hectare. This licence is for a 1,954.336-hectare lease north of Gainsborough in the southeast.
Saturn Oil & Gas Inc. had the highest bid for a lease, offering $1,223,391, or an average of $1,711.08 per hectare, for a 714.982-hectare area east of Redvers, also in the southeast.
Bidding in the Lloydminster area generated $885,394, while the Kindersley area raised $565,348 in revenue.
The February Crown oil and natural gas public offering closes out the fiscal year. Through six public offerings, the Government of Saskatchewan raised $67,256,180 in revenue. This represents a 29 per cent increase from the $51,814,614 generated in 2024-25.
The August 2025 public offering accounted for much of this increase, due to that month’s total of $24,312,738, the most such revenue generated in a public offering since 2014.
The first public offering for the 2026-27 fiscal year is scheduled for April 7.
Leases are offered with five-year terms and are issued to drill for and produce oil or natural gas. Exploration licences have terms of two to five years and are issued in less developed areas for exploration and production.
