10.6 C
Fort St. John
Tuesday, March 19, 2019
9924 101 ave Fort St. John, B.C.
Advertisement
Home News October natural gas and petroleum sales same as September

October natural gas and petroleum sales same as September

Advertisement

 

It now appears unlikely this will be another billion dollar year in the sale of natural gas and petroleum rights in Northeast B.C.

The October sale was nearly a carbon copy of the one last month, resulting in roughly $20 million in bonus bids.

- Advertisement -

That brings the 10-month calendar year total to $801 million, just over $90 million off last year’s 12-month total.

However, the next sale scheduled for Nov. 17, could be a small one since it will offer only 14 parcels covering less than six thousand hectares.

Twenty-nine of the 30 parcels offered yesterday were sold, covering nearly 20 thousand hectares.

The average per-hectare price was just over $1,000.

However, a key parcel, 30 kilometers east of Chetwynd, sold for more than $8.5 million and it had a per-hectare bid of over $8,000.

Sales for the last four months have totalled about $191 million, but that is less than half the June sale which was over $404 million.

 

get the latest news in your inbox

Author

Advertisement

Local Events

Must Read

Road flooding continues as temperatures rise in the Region

FORT ST. JOHN, B.C. - With the temperatures rising in the Peace Region the roads continue to flood as the days go along.According to...