This year’s B.C. government revenue drought from oil and gas sales continues as this week’s August Sale of crown petroleum and natural gas rights was another brutal one in terms of bonus bids.
The Ministry of Natural Gas Development says the total was only $381,000, as just six of nine parcels offered, covering 2,500 hectares were sold.
That makes seven consecutive months of sales under two million dollars and three of them were below $500,000.
As a result, with two thirds of the 2015 monthly sales now concluded, the year-to-date bonus bids total is less than $8.5 million, and on pace to easily result in the lowest calendar-year-end-total in more than three decades.