Other Producing Energy Assets

Photo: Weyburn Processing Facility, Saskatchewan

Location: BC / AB / SK / MB, Canada and Oregon, US
Operator: Various
Royalty: ORR/FH: 0.5-20%

In Saskatchewan and Manitoba, the assets are focused primarily in high quality oil plays and are operated by companies such as Crescent Point Energy, TORC Oil & Gas Ltd., Vermilion and CNRL. The most significant producing assets are comprised of the Midale Unit and the Tidewater royalties. Franco-Nevada holds a 1.14% gross override royalty interest and a 1.59% working interest in the Midale Unit in Southeast Saskatchewan where Cardinal Energy produces approximately 4,000 Boe/d through CO2 Enhanced Oil Recovery (EOR) techniques. The Tidewater royalties in Saskatchewan generate oil production from the Shaunavon and other formations and are managed by various operators.

In Alberta and BC, the interests generate revenue primarily from natural gas production from shallow gas formations such as Milk River and Medicine Hat. In northern Alberta, the interests provide exposure to deeper conventional gas targets including the Shunda, Grosmont and Elkton formations. Franco-Nevada’s most significant assets in the region are the Edson property operated by CNRL and the Medicine Hat Consolidated Unit No.1, operated by Canlin Resources Partnership. Franco-Nevada has an approximate 15% overriding royalty in the Edson property where CNRL extracts gas and natural gas liquids by exploiting resources in the Cardium Formation. The Medicine Hat Unit has been producing gas since 1963 and is located approximately 257 km southeast of Calgary. Other production comes from unitized and non-unitized wells, including gross overriding royalty positions in ten different Units across Alberta. Other operators on the interests include, Canadian Natural Resources Ltd. and Imperial Oil.

In 2020, Franco-Nevada acquired a royalty on the Neal Hot Springs geothermal operation in Oregon as part of a broader portfolio transaction. The plant produces approximately 22 MW of clean energy and is operated by Ormat Technologies, Inc.

Revenue from the Other Producing assets represented 5.5% of total energy revenue for the year.


  • Primarily quality oil plays in Saskatchewan and Manitoba
  • Exposure to shallow gas and deeper conventional gas in Alberta and BC
  • Interest in the Neal Hot Springs geothermal project

2020 2019 2018
Revenue to Franco-Nevada ($ million)1 $ 5.1 $ 7.7 $ 8.1

1 Revenue refers only to payments made to Franco-Nevada; includes revenue received from lease and bonus payments

Energy Exploration Asset

Energy Exploration Asset