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Home News February sale brings low bonus bids

February sale brings low bonus bids

 

The February petroleum and natural gas sale is considerably lower than the same month last year.

This month’s sale resulted in only $2.1 million in bonus bids.

Only eight parcels were sold, covering 3,924 hectares. The average price per hectare was $531. The parcels included four drilling licences in the Buick Creek West – 80 km northwest of Fort St. John – gas field and raised nearly $1.9 million. The average price per hectare for the four licences was $664.

With January’s $8 million in bonus bids, February’s sale brings the total for the first two months of 2011 up to slightly more than $10 million.

February 2010 resulted in $17 million in bonus bids.

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