Parcel sells for $77 million in July land rights sale

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FORT ST. JOHN, B.C. — July was a notable month in the province’s petroleum and natural gas land rights sales for the year.

In total, the province made nearly $85 million dollars in the sale of 19 leases and drilling licenses covering 17,009 hectares. The highest amount paid for a parcel in the sale was a 5,542-hectare drilling license that was purchased by Scott Land & Lease Ltd. This parcel earned $77 million, at a price of nearly $14,000 per hectare. Several other smaller parcels of land netted lease licenses at over $7,700 per hectare.

Ministry of Energy, Mines & Petroleum Resources spokesperson Suntanu Dalal said that the $77 million parcel of land, and other high-value parcels sold are located within the liquids-rich portion of the Montney Trend. According to Dalal, the parcel that netted the largest amount of money is located approximately 50 kilometres northwest of Fort St. John.

The next land rights sale is scheduled to take place on August 23rd.