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Saskatchewan Energy Minister Bill Boyd says Canadian oil and gas companies are choosing his province over Alberta for investment in exploration and production because of the new Alberta NDP government’s promise to review Crown royalty rates.

But he stopped short of calling the review a mistake during an interview with reporters after giving a speech to attendees of the Global Petroleum Show in Calgary on Wednesday. Nor would he guarantee that Saskatchewan will never change its royalty rates.

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“We have seen some of that already — there have been some companies that have made some public announcements, and then some companies we’ve had some discussions with that we expect we will see further capital allocation into our market in Saskatchewan,” he said.

“I think companies are looking for jurisdictions where there is stability, certainly regulatory and royalty stability … A lot of them are saying that … they are certainly not looking to make any large investments or new investments until the atmosphere or the climate is known.”