Richard Neufeld on the Record Oil & Gas Sale

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Energy Minister Richard Neufeld is reluctant to speculate on a final spike, for monthly sales of oil and gas rights in Northeast BC.

Wednesday’s July sale set another record, of 610 million dollars in bonus bids, smashing the previous mark, of the 441 million, set just two months ago…

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The fiscal year total is now about one point three billion dollars and, the calendar year total is more than one and half billion.

Both those figures, break one point two billion dollar records set last year.

Shale reserves in the Montney Play, northeast of Fort St. John, remain the key investment attraction in the area.

Mr. Neufeld concedes the increase in Alberta’s oil royalities, scheduled for implementation next year may also be a factor but, he’s reluctant to dwell on that…

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