September sale of gas & petroleum land rights

The Provincial Ministry of Energy, Mines and Petroleum Resources has confirmed that yesterday’s sale of natural gas and petroleum rights in Northeastern B.C. resulted in nearly $20 million in bonus bids.

 

That puts the year-to-date total at more than 780 million, about $113 million less than last year’s total.

When the sale was over yesterday, 70 parcels had been offered covering just under 30 thousand hectares and 53 of them,covering more than 22 thousand hectares, were sold.

The average price for the sale was slightly less than $900 per hectare.

The key parcels were four leases south of the Blair Creek Gas Field, 90 kilometers north of Hudson’s Hope, for nearly $4 million.

They had per-hectare bids ranging from 28 hundred to more than 42 hundred dollars.

The next sale is scheduled for Oct. 20.  Initial reports indicate there will be 25 parcels offered, covering 11,528 hecatres.

 

Comments

Have something you'd like to add? Read our comment policy by clicking here.