Best monthly sale this year of crown petroleum and natural gas rights

Wednesday’s May sale of crown petroleum and natural gas rights was the biggest one yet this calendar year in terms of provincial revenue.

It resulted in just over $16 million, in bonus bids…but unfortunately did nothing to reverse this year’s slow bonus bid’s pace.

That’s because the May sale last year was worth more than $76 million, and this year’s five month total is still about $30 million less than that.

It sits at roughtly $45 million, as opposed to last year, when the total for the same period was over $200 million.

In addition the June sale last year was worth more than $404 million, and thus it will take a sale of more than $560 million on the 22nd of next month to get the bonus bids back on pace with last year.

Wednesday’s sale also saw only 15 of the 23 parcels sold purchased for an average price of slightly more than $12 hundred per hectare.