The Saskatchewan government‘s latest Crown land oil and natural gas sale generated more than $24M.
Read more: No predatory towing allowed in Alberta
The sale, held on Aug. 5, brought in a total of $24,312,738.26 and was the most successful offering in over a decade. The last time a public offering reached that amount was in August of 2014 when bids generated $48.4M.
“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,” said Energy and Resources Minister Colleen Young.
“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.”
Saturn Oil & Gas Inc.’s $15,002,913.35 bid for a 3,998.250 hectare exploration licence for light oil in the Estevan area was the largest in this public offering.
Overall, the Estevan area generated the most revenue, $23,407,574.60, driven by bids on three exploration licences and 23 leases for a total of 8,997.897 hectares.
The Lloydminster area was next, with $545,033.22 generated, followed by the Kindersley area, at $360,130.44.
Prairie Land & Investment Services Ltd. made the highest bid on a lease, offering $1,700,954.53 for a 129.289 hectare parcel southeast of Lampman in the Estevan area. 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.
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, geological and technological constraints and various market conditions.
Read more: Sask government helps hunters prepare for upcoming season
