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Tuesday, July 23, 2019
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Home News July Oil and Gas Land Rights Sale

July Oil and Gas Land Rights Sale


The sale of oil and gas land rights in Northeast BC this calander year has now resulted in nearly a quarter of a billion dollars, in bonus bids.

The July sale this week added over $38 million to the year-to-date total bringing it to about $247 million. 21 of the 26 parcels offered were sold, covering nearly 57,000 hectares, and making the per hectare price $675.

It was easily the second largest monthly sale this calendar year…more than doubling the bonus bids total of any of the first five.

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However, the total also represents less than a quarter of the June sale, which was the 9th largest in BC history. It’s also only about six percent of the sale last July…the one which established an all-time BC record, with over $610 million in bonus bids.

The next sale is scheduled, for August 12th.

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