Oil and Gas Land Rights Sale Results to be Released Today

The Provincial Ministry of Energy, Mines and Resources is expected to release the results later this morning, of yesterday’s November sale of oil and gas land rights.

On offer were 44 parcels covering more than 21, 000 hectares and the sale followed by far, the biggest monthly sale this calendar year in October.

It resulted in slightly more than 370 million dollars in bonus bids…more than double the sale, in October of last year and more than the combined total, of the sales of the previous nine months, this year.

It left the 2009 total, at just over 700 million dollars, meaning the final two monthly sales this year, will need to top the final two months of last year, by nearly 100 million dollars, to reach a calendar year total of one billion.

However, even if that occurs, this year’s total will still be less, that half of last year’s record total, of more than 2.6 billion dollars.