There's a bit of optimism in the energy sector as it was announced that the February public offering of Crown petroleum and natural gas rights generated $3 million. This number pushed the totals for the 2017-18 fiscal year to $65 million surpassing last year's total of $50 million.
"We're pretty steady over the last four to five years from year to year," explained Paul Mahnic, Executive Director Lands and Mineral Tenure Branch, "which isn't bad. It does get you through the highs and the lows of the price in oil. For us, it does indicate that the industry is still interested in Saskatchewan. It's definitely encouraging. "
He added that the southeast continues to be a focus with 52 leases generating over $2.4 million.
"From our perspective, it seems that it's likely the Mississippian that is drawing the interest. From year to year, decade to decade the Mississippian Midale Frobisher are always relatively economical for industry. That's a good sign as well, it's not just a boom and bust."
"The fiscal year total is definitely encouraging. You're going to have fluctuation for sale to sale based on industry's budget cycle as well. It may look a little choppy when you look sale to sale but overall it's encouraging."
The next public offering for Crown rights will be on April 10.