FORT ST. JOHN, B.C. – The B.C. government’s petroleum and natural gas land rights sale was another sign that a recovery is underway in the province’s oil and gas industry.
Last month, seven drilling licenses and one lease were auctioned off, bringing in a total of 14,947,864.51. That number is nearly three times the amount of March’s land rights sale, and is a huge jump compared to one year ago, when the April 2016 land rights sale netted only 401,552.68. The average price per hectare in last month’s sale of 8,402 hectares was $3,135.74.
Despite not quite as high as January’s sale, when close to $40 million was sold, this month brings the 2017 year-to-date total from land rights sales in B.C. to roughly $63,192,000.
While drilling licenses failed to bring in a large amount of money, a 1,056 hectare lease that was sold to Scott Land & Lease made up just over $14.1 million of this month’s total.
Thanks for reading!
Energeticcity.ca is the voice of the Peace, bringing issues that matter to the forefront with independent journalism. Our job is to share the unique values of the Peace region with the rest of B.C. and make sure those in power hear us. From your kids’ lemonade stand to natural resource projects, we cover it – but we need your support. Give $10 a month to Energeticcity.ca today and be the reason we can cover the next story.