The Government of Saskatchewan raised just over $7 million in its final Crown oil and natural gas public offering of the 2025-26 fiscal year.
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The Feb. 3 sale generated $7,009,225.76 in revenue, driven largely by activity in the Estevan and Swift Current regions. In total, 90 bids were accepted, covering 16,911.832 hectares.
The Estevan area led the way, bringing in $3,456,833.90 for one exploration licence and 24 leases spanning 4,189.700 hectares. Swift Current followed with $2,101,648.51 from 24 leases totalling 5,446.066 hectares.
Cougar Creek Land Ltd. submitted the highest bid for an exploration licence, offering $1,667,888.88 — an average of $853.43 per hectare — for 1,954.336 hectares north of Gainsborough in the Estevan area.
Saturn Oil & Gas Inc. placed the top bid on a lease, paying $1,223,391.40, or $1,711.08 per hectare, for a 714.982-hectare parcel east of Redvers, also in the Estevan region.
The Lloydminster area generated $885,394.68 in bids, while the Kindersley area raised $565,348.67.
The February sale closes out a strong fiscal year for Saskatchewan’s Crown petroleum rights program. Through six public offerings, the province collected $67,256,180.34 — a 29 per cent increase over the $51,814,614.76 raised in 2024-25.
Much of the year-over-year increase was attributed to the August 2025 sale, which generated $24,312,738.26 — the highest single-offering total since 2014.
Leases are issued for five-year terms, allowing companies to drill for and produce oil or natural gas. Exploration licences, typically issued in less-developed areas, carry terms of two to five years. Activity in public offerings is influenced by commodity prices, land availability, geology, technology and broader market conditions.
The first public offering of the 2026-27 fiscal year is scheduled for April 7.
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