Oil & Gas Rights Sale

The July sale of Northern BC oil and gas rights yesterday has resulted, in another chain of record breaking revenue numbers for the BC government. First, it shattered the 441 million dollar monthly sale record, set in May, with a phenominal total of 610 million. That takes this year’s seven month calendar year total, past one and half billion dollars and, the current fiscal year total past, one point three billion. Both those figures, still far from complete, are also records, which were set last year, at roughly one point two billion, in both cases. The July sale offered 149 parcels and, 146 of them

covering nearly 133 thousand hectares were sold. That put the average price per hectare at more than 45 hundred dollars, with the key parcels being five drilling licences located, about 45 kilometers

west of Dawson Creek. They include rights to the Montney formation and, the bids were over 32

thousand 500 dollars per hectare, for a total of more than 482 million dollars. The highest price paid for an individual drilling licence was 33 thousand, 649 dollarsand, the highest price for a lease parcel was 24 thousand 690 dollars. Those are also record totals for BC and, in the case of the lease price, breaks a mark which has stood since August of 1980. This year’sAugust sale is set for the 13th of the month and, will offer 136 parcels, covering nearly 116 thousand hectares.

For more on this months sale and previous ones Click Here