The first public offering for Crown petroleum and natural gas rights for this fiscal year raised $2.9 million in revenue for the province. That’s about twice the amount raised in the April public offering last year. Energy and Resources Minister Bronwyn Eyre says, “There are clear indicators of renewed activity taking place in Saskatchewan’s oil patch.”
The government says the value of the province’s total production last year significantly increased over the value for 2016, rising from $6.9 billion to $9.2 billion. As well, there was an estimated $4 billion of investment in new exploration and development by the oil industry in 2017.That was up 42 per cent from the previous year.