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Tuesday, October 15, 2019
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Home News Weak month for natural gas bonus bids

Weak month for natural gas bonus bids


July has resulted in another low petroleum and natural gas sale this year of just $5.1 million.

That compares to $53 million in bonus bids the same time last year.

This month, there were 24 parcels put up for sale of which 17 were sold, covering 5,239 hectares, leaving 1,916 hectares unsold. The average parcel price was $970 per hectare.

Up for grabs were two drilling licences in the Montney Regional Trend area, about 80 kilometres north of Hudson’s Hope. The two licences had per-hectare bids of $6,149, making up approximately $3.5 million of the month’s sales.

The July sale brings the calendar year total to just more than $71 million.

The next sale in August is expected to offer significantly more parcels of land, covering a greater area.

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