March land rights sale generates millions

Be staff



The Province raked-in more than $13 million in bonus bids, for the March Oil and Gas land-rights sale.

That’s slightly down from last year’s sale, which generated almost $15 million.

Wednesday’s sale offered 77 parcels in northeast B.C., covering 25,171 hectares, and sold 66 parcels covering 18,736 hectares. The average price per hectare for this sale was approximately $715.

Included in the sale are four leases for deep-drilling rights in the Blair Creek area, around 105 km northwest of Fort St. John. Bids ranged between roughly $4,000 and $7,000 per hectare, for a total of nearly $6.1 million.

Also, two leases were awarded in the eastern portion of the Horn River Basin, about 70 km northeast of Fort Nelson totaling nearly $1.1 million.

The next sale is scheduled for April 21 and will offer 30 parcels covering more than 27,000 hectares.