First land rights sale of 2011 today

The next oil and gas land rights sale will happen Wednesday.

Provincial Energy Ministry plans call for today’s first monthly natural gas and petroleum rights sale this year, to offer 25 parcels, covering just over 32,000 hectares.

The province is coming off its second consecutive calendar year sale, of less than $900 million in bonus bids, which is also less than half of the $2.4 billion payout, to the Alberta treasury last year, by oil and gas producers.

As reported last week they’ve also started 2011 with a bang, spending $155 million on licences and leases covering 286,000 hectares, which was that province’s largest January auction of conventional drilling rights in at least 15 years.

Look for results from today’s sale to be released Thursday.

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