July Oil and Gas Land Rights Sale

The sale of oil and gas land rights in Northeast BC this calander year has now resulted in nearly a quarter of a billion dollars, in bonus bids.

The July sale this week added over $38 million to the year-to-date total bringing it to about $247 million. 21 of the 26 parcels offered were sold, covering nearly 57,000 hectares, and making the per hectare price $675.

It was easily the second largest monthly sale this calendar year…more than doubling the bonus bids total of any of the first five.

However, the total also represents less than a quarter of the June sale, which was the 9th largest in BC history. It’s also only about six percent of the sale last July…the one which established an all-time BC record, with over $610 million in bonus bids.

The next sale is scheduled, for August 12th.