April Gas & Petroleum Sale Nearly 5-Times Last Years

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Yesterday’s, April natural gas and petroleum sale in BC resulted in over $85 million in bonus bids.
That’s nearly double the total for the first three months of the year, and nearly five times the total for the April sale of last year.
25 of 30 parcels offered were sold covering just over 24 thousand hectares.
That put the average price per hectare at roughly $35 hundred, although bids for five drilling licences for Montney rights…about 20 kilometeres east of Chetwynd….ranged from just over $5 thousand, to more than $12 thousand.
The total for those rights was nearly $48 million, and one licence about 120 kilometers northwest of Hudson’s Hope totalled more than $15 million.
Energy Minister Blair Lekstrom called the sale good news for the province, and said it was another indication of investor confidence.
It brought the four-month calendar year bonus bid total to more than $128 million…about $70 million ahead of last year, for the same period.
The next sale will offer 96 parcels covering more than 47 thousand hectares, and it is scheduled for May 19th.

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