Crown oil and gas public offering generates over $7 million to close fiscal year

The Government of Saskatchewan’s latest Crown oil and natural gas public offering, held February 3, 2026, generated $7,009,225.76 in revenue, with the majority of bids concentrated in the Estevan and Swift Current areas.

The offering marked the final public sale of the 2025–26 fiscal year and resulted in 90 successful bids covering a total of 16,911.832 hectares.

The Estevan area accounted for $3,456,833.90 in revenue from one exploration licence and 24 leases totalling 4,189.700 hectares. The Swift Current area generated $2,101,648.51 from 24 leases covering 5,446.066 hectares.

Cougar Creek Land Ltd. submitted the highest bid for an exploration licence, offering $1,667,888.88, or an average of $853.43 per hectare. The licence covers 1,954.336 hectares north of Gainsborough in the Estevan area.

Saturn Oil & Gas Inc. recorded the highest lease bid, offering $1,223,391.40, averaging $1,711.08 per hectare, for a 714.982-hectare parcel east of Redvers in the Estevan area.

Additional bidding activity generated $885,394.68 in the Lloydminster area and $565,348.67 in the Kindersley area.

Through six public offerings during the 2025–26 fiscal year, the Government of Saskatchewan raised a total of $67,256,180.34 in Crown oil and gas revenue. This represents a 29 per cent increase compared to the $51,814,614.76 generated in the previous fiscal year.

The August 2025 public offering accounted for a significant portion of this increase, generating $24,312,738.26—the highest single public offering revenue total since 2014.

The first Crown oil and natural gas public offering for the 2026–27 fiscal year is scheduled for April 7, 2026.

Crown leases are issued for five-year terms and allow for the drilling and production of oil or natural gas. Exploration licences are issued for terms of two to five years in less developed areas to support exploration and potential production. Public offering activity is influenced by several factors, including commodity prices, land availability, geological and technological considerations, and broader market conditions.

More information on Saskatchewan’s Crown oil and gas public offerings is available on the Schedule of Public Offerings webpage at saskatchewan.ca.