August’s petroleum land rights sale much quieter than July’s

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FORT ST. JOHN, B.C. — After the nearly $85 million that July’s provincial petroleum and natural gas land rights sale brought in, August’s auction looked more similar to those held in May and June.

In total, just 12 leases and drilling licenses were sold at the sale on August 23rd, bringing in just $3,454,906.06 to provincial coffers. The biggest parcel sold was a 264-hectare lease that was bought by Windfall Resources Ltd. for $1.1 million. The price paid for that parcel was roughly $4,200/hectare, a far cry from the over $13,000/hectare parcel sold in July that brought in $77 million alone.

The next land rights sale is scheduled to take place on September 20th.

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