Oil & Gas Land Rights Sale Today

With the year-to-date total standing at about $58 million, this is the day for the fifth 2009, monthly sale of oil and gas land rights in BC.

By this time last year the province had recorded $290 million in bonus bids and then added what was then a record monthly sale of more than $441 million, in May.

That pushed the five month total last year, to more than $750 million and based on the sales so far this year, that could be three times the 12 month total.

However, while there’s no reason to assume today’s sale will come even close to the 2008 May sale, there’s every reason to believe, it will easily exceed the 2007 sale, for the same month which was less than five million.

Each of the last three monthly sales has generated $15 to $20 million in bonus bids.

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