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Oil & Gas

• World instability and supply shortages have increased prices.
• Increased trend in global consumption.
• Refinery shortage.
• Punitive royalty structure, now abolished, resulted in significant
• under-investment in Saskatchewan’s energy sector.

Sources: Saskatchewan Industry and Resources, CIBCWorld Markets

Current Facts on Oil and Gas:

• In Canada, Saskatchewan’s oil production is second only to Alberta.
• The Province produces approximately 20% of total Canadian oil.
• US Geological Survey reported that the Bakken oil formation has up to 4.3 billion barrels of recoverable oil. 
• Approximately 1/4 of the Bakken formation is in southern Saskatchewan and holds up to 1.3 billion barrels. 
• Changes in Alberta royalty structure are spurring rapid development of Saskatchewan oil and gas potential.
• Approximately 60% of Saskatchewan’s production is currently exported to the US.

Saskatchewan may soon overtake Alberta as the country’s largest conventional oil producer.

Honourable Bill Boyd, Minister of Energy and Resources

Source: Bakken stats from Petrobank. Sk industry oil & gas.