The Rural Municipality of Oakdale No. 320 was incorporated in 1909. It includes Townships 31, 32, and 33 and Ranges 22, 23, and 24, West of the Third Meridian
The present R.M. office was built in 1986 and includes the offices of the R.M. of Oakdale No. 320, the Village of Coleville, and the Coleville Wheatland Library Branch.
The railroad was built in 1913 and the water tower in 1914. The water tower is still in use today. Eventually two elevators were run by the Saskatchewan Wheat Pool. In 1998 one elevator was demolished. The remaining elevator is operated privately.
Oil was discovered two miles south of Coleville in 1951 by Royalite Oil Company. During the next five years, 284 heavy crude oil wells were drilled along with gas wells. Oil continues to drive Coleville's economy.