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Wednesday, January 23, 2019
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Home Energy News Australian company increases B.C. oil and gas holdings in November’s land rights...

Australian company increases B.C. oil and gas holdings in November’s land rights sale

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FORT ST. JOHN, B.C. — Australia-based Calima Energy increased its holdings in Northeast B.C. during last month’s petroleum land rights sale.

On November 15th, a total of 12 parcels of land were on the auction block, though only four drilling licenses were purchased. The auction raised a paltry $672,221.59 for provincial coffers, which is far lower than in October’s sale, which netted just over $2.5 million. Of the 3,975 hectares of drilling rights that were picked up, the highest was a 782-hectare parcel that went for roughly $206,000.

Australia’s Calima Energy announced in a press release today that it increased its acreage in Northeast B.C. by approximately 1,100 hectares during the most recent provincial auction. The company said that with the land picked up last month, it has increased its holdings in the liquids-rich Montney Basin by four percent, to a total of 28,589 hectares.

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The next land rights sale is scheduled to take place on January 17th.

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