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Home News Province nets $12.9 million in first petroleum land rights sale of 2018

Province nets $12.9 million in first petroleum land rights sale of 2018

FORT ST. JOHN, B.C. — The provincial government brought in nearly $13 million in the first petroleum and natural gas land rights sale of the new year.

In Wednesday’s auction, a total of 39,005 hectares of land rights were sold off, most of which were drilling licenses. Oil and gas companies spent just over $11.3 million on drilling licenses over a total of 37,151 hectares, while 1,854 hectares of leases worth $1.6 million were also sold.

The highest price paid last month was just over $2.3 million for a 4,400-hectare drilling license, that was purchased by Plunkett Resources Ltd. The most valuable parcel was a 518 hectare lease bought by Scott Land & Lease at a rate of $1,710.50 per hectare.

This month’s auction was most notable however for two parcels of land that were not included in the sale.

The two parcels, part of which are located within the boundaries of the District of Taylor, were deferred from being auctioned off by the Ministry of Energy, Mines & Petroleum Resources. Ministry spokesperson Suntanu Dalal said that the two parcels in question, which have Ministry parcel reference numbers 1801009 and 1801010, were deferred until further engagement with the District is completed.

The District’s Chief Administrative Officer Charlotte McLeod said that the community was notified about the upcoming sale of the two parcels, and that the District wanted to ensure that the proper caveats were put on the two parcels. Both parcels are located along the northern fringes of the District’s boundaries, one of which is just north of Lone Wolf Golf Club.

The next petroleum land rights sale is taking place on February 21st, when just 14 parcels will be up for bid.

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