October Oil and Gas Public Offering Raises $29 Million in Revenue

CANADA, October 9 - Released on October 9, 2026

The Government of Saskatchewan's fourth Crown oil and natural gas public offering of the fiscal year, held on October 6, 2026, generated over $29 million in revenue with bids in the Lloydminster area earning the highest amount, followed closely by bids in the Estevan, Swift Current, and Kindersley areas.

Bids were accepted on 75 parcels, including 69 leases and six exploration licences, covering a combined area of 22,350 hectares. Bidding in the Lloydminster area generated $11,366,578 in revenue, followed by $10,033,965 in the Estevan area, $5,821,007 in the Swift Current area, and $1,909,781 in the Kindersley area. 

The six exploration licences brought in a total of $19,829,283. Two of these licences were posted in the Estevan area, three were posted in the Swift Current area, and the remaining licence was posted in the Lloydminster area.

The highest bonus bid received on an exploration licence was $9,995,200. This 2,324-hectare licence was awarded to Scout Energy Ltd. and is located east of St. Walburg.

The highest bonus bid received on a lease in this offering was $801,000. This 64-hectare lease was awarded to Hummingbird Energy Inc. and is located northeast of North Portal. 

Leases are issued for terms of up to five years, granting the right to drill for and produce oil and natural gas. Exploration licences are issued for terms ranging from two to five years in less-developed areas, authorizing both exploration activities and future production opportunities. Several factors affect public offering activity, including oil and gas prices, land availability, geological and technological constraints, and various market conditions.

The next offering is scheduled for December 1, 2026. 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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