December Oil and Gas Public Offering Raises $7.5 Million in Revenue

CANADA, December 5 - Released on December 5, 2025

The Government of Saskatchewan's latest Crown oil and natural gas public offering, held on December 2, 2025, attracted 89 bids for leases and exploration licences, and generated $7,484,935.82 in revenue, almost half of which came from the Estevan area. 

The bids covered 17,875.984 hectares in all four bid areas of the province - Estevan, Lloydminster, Kindersley and Swift Current.  

The Estevan area brought in the most revenue, $3,692,676.49, following bids for two exploration licences and 43 leases totalling 3,502.081 hectares. 

This area also saw the highest bid amount and the highest dollars-per-hectare bid on a parcel - made by Whitecap Resources Inc. The company offered $1,047,040.88, or an average of $8,111.00 per hectare, for a 129.089 hectare lease southeast of Lampman.

Hummingbird Energy Inc. made the highest bid on an exploration licence. The company offered $233,000.00 for a 321.458 hectare lease east of Radville, also in the Estevan area.

In the Lloydminster area, bidding on 29 leases generated $1,886,404.70, for an area covering 6,797.617 hectares. 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. Bids submitted in the Swift Current area raised $947,848.83, while bids submitted in the Kindersley area raised $958,005.80. 

This month's Crown oil and natural gas public offering was the fifth of the fiscal year, during which the province has raised $60,246,954.58 in revenue. The sixth and final offering of the fiscal year is scheduled for February 3, 2026. It will feature 98 leases and two exploration licences covering 19,371.299 hectares.

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 the Schedule of Public Offerings webpage.

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