Saskatchewan Crown oil and gas offering raises $7.5 million

The Government of Saskatchewan’s latest Crown oil and natural gas public offering has generated $7.48 million in revenue.

Held Dec. 2, 2025, the offering attracted 89 bids for leases and exploration licences covering 17,875.984 hectares across four provincial bid areas: Estevan, Lloydminster, Kindersley and Swift Current.

The Estevan area contributed nearly half of the total revenue, with $3.69 million from bids on two exploration licences and 43 leases totalling 3,502.081 hectares. Whitecap Resources Inc. submitted the highest bid for a lease in the area, offering $1,047,040.88 — an average of $8,111 per hectare — for a 129.089-hectare parcel southeast of Lampman. Hummingbird Energy Inc. submitted the top bid on an exploration licence, offering $233,000 for a 321.458-hectare parcel east of Radville.

In Lloydminster, 29 leases covering 6,797.617 hectares raised $1.89 million. Scout Energy Ltd. made the highest bid in the area, $777,861.13 for a 775.264-hectare parcel southeast of St. Walburg.

The Swift Current and Kindersley areas each generated just under $1 million, with $947,848.83 and $958,005.80 in bids, respectively.

This was the fifth Crown offering of the fiscal year, bringing the province’s total revenue from public offerings to $60.25 million. The sixth and final offering is scheduled for Feb. 3, 2026, and will feature 98 leases and two exploration licences covering 19,371.299 hectares.

Leases are issued for five-year terms to drill for and produce oil or natural gas, while exploration licences, which have terms of two to five years, are issued in less developed areas for exploration and production. Activity in public offerings is influenced by oil and gas prices, land availability, geological and technological factors, and broader market conditions.