REGINA — The Government of Saskatchewan's latest Crown oil and natural gas public offering, held Aug. 5, has generated more than $24 million in revenue, the largest amount earned from such offerings in more than a decade.
In total, bids for oil and natural gas leases and exploration licences generated $24,312,738. The last time a public offering for oil and natural gas rights reached or exceeded that amount was in August 2014, when bids generated $48.4 million.
Saturn Oil & Gas Inc.'s $15,002,913 bid was the largest in this public offering. The bid was for a 3,998.250-hectare exploration licence for a parcel prospective for light oil in the southeast near Creelman.
Overall, the southeast generated the most revenue, $23,407,574, driven by bids on three exploration licences and 23 leases for a total of 8,997.897 hectares. The Lloydminster area was next, with $545,033 generated, followed by the Kindersley area at $360,130.
Prairie Land & Investment Services Ltd. made the highest bid on a lease, offering $1,700,954 for a 129.289-hectare parcel southeast of Lampman in the southeast. Prairie Land's bid works out to $13,156.22 per hectare.
This offering saw 40 parcels in the province receive acceptable bids, covering a total area of 12,037.530 hectares. It was the third of six such offerings for the 2025-26 fiscal year, over which time the Government of Saskatchewan has raised $45,423,984.
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. Several factors affect public offering activity, including oil and gas prices, land availability, various market conditions, and geological and technological constraints.
"I am pleased to see this strong uptake in the Ministry of Energy and Resource's bi-monthly public offering process for Crown oil and gas land," Energy and Resources Minister Colleen Young said.
"The oil and gas sector is a pillar of our province's economy and it continues to generate exploration interest. As Saskatchewan's resources generate more investment, it helps to grow the economy and ultimately benefits everyone in the province."
