February Oil and Gas Public Offering Raises $7 Million in Revenue to Close Out Fiscal Year

CANADA, February 6 - Released on February 6, 2026

The Government of Saskatchewan's latest Crown oil and natural gas public offering, held on February 3, 2026, generated $7,009,225.76 in revenue, with most of that coming from bids in the Estevan and Swift Current areas. 

This offering is the last of the 2025-26 fiscal year, and it saw 90 successful bids covering a total area of 16,911.832 hectares.

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

Cougar Creek Land Ltd. made the highest bid for an exploration licence, offering $1,667,888.88 for an average of $853.43 per hectare. This licence is for a 1,954.336 hectare lease north of Gainsborough in the Estevan area. 

Saturn Oil & Gas Inc. had the highest bid for a lease, offering $1,223,391.40, or an average of $1,711.08 per hectare, for a 714.982 hectare area east of Redvers in the Estevan area.

Bidding in the Lloydminster area generated $885,394.68, while the Kindersley area raised $565,348.67 in revenue.

This month's Crown oil and natural gas public offering closes out the fiscal year. Through six public offerings, the Government of Saskatchewan raised $67,256,180.34 in revenue. This represents a 29 per cent increase from the $51,814,614.76 generated in fiscal 2024-25.

The August 2025 public offering accounts for much of this increase, due to that month's revenue total of $24,312,738.26, the most such revenue generated in a public offering since 2014. 

The first public offering for the 2026-27 fiscal year is scheduled for April 7, 2026. 

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.

For more information about oil and gas public offerings in Saskatchewan, please visit: Schedule of Public Offerings webpage on saskatchewan.ca. 

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