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Home Energy News 2016's first natural gas rights sale millions less than last year's

2016’s first natural gas rights sale millions less than last year’s

FORT ST. JOHN, B.C. — Despite recording a dismal 2015 bonus bids total of $18.3 million, the province has started the New Year with a monthly sale of natural gas and petroleum rights of only $212,000.

It’s more than $2 million less than the January sale last year, lower than any monthly total in 2015, and the sixth monthly sale in the last twelve months under $1 million.

Six of the eight parcels offered this week — all drilling licenses — were purchased, but the price per hectare was only $76.53:  also lower than any monthly sale last year.

The next sale is set for February 24, 2016.

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