Another low bonus bid petroleum and natural sale

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Although it was triple the February sale, this month’s petroleum and natural gas sale resulted in only about $6.8 million in bonus bids.

That left the fiscal year total at roughly $818 million…about $26 million less than the 2010 calendar year total.

21 of the 24 parcels offered this week were purchased with the average price per hectare at $576.

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The bonus bid total was only about half of the March sale of last year, and so far this year every monthly sale has fallen well short of the comparable one in 2010.

This year’s three month bonus bid total is roughly $17 million, as compared to more than $43 million, for the same period last year.

Last year’s April sale resulted in more than $85 million in bonus bids, which means to get this year on pace with 2010, the next scheduled sale on the 27th of this month, will need a total, that’s close to $112 million.

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