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Friday, March 22, 2019
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Home Energy News First natural gas and crown petroleum rights sale of 2015 this week...

First natural gas and crown petroleum rights sale of 2015 this week

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The province officially finished the last calendar year with a bonus bids total of $382.7 million, and at $209.6 million, the November sale was responsible for nearly 55 per cent of it.

It was the best year of the last four, and exceeded each one of the previous three by more than $150 million.

This week’s sale is expected to offer 18 parcels, 10 leases and eight drilling licenses – covering about 9,800 hectares.

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In last year’s January sale, 21 of the 30 parcels offered were purchased, and resulted in a bonus bids total of $7.4 million.

Of interest this year is how much of an impact the falling price of crude oil will have on the January sale, given the predictions of significant oil patch layoffs and reduced drilling activity in all the western provinces.

 

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