FORT ST. JOHN, B.C. – B.C.’s coffers will be getting just over $42 million from a drilling license that was auction off in the provincial petroleum and natural gas land rights sale this week.
Landsolutions GP Ltd. paid $42,052,202.00 for a 1,847-hectare drilling license in the provincial auction, which was held on Wednesday, June 13th. The parcel, which overlaps the Halfway River First Nation and the proposed Tsaa Nuna Conservancy on the other side of the Halfway River from the First Nation, went for a whopping $22,767.84 per hectare.
Scott Land & Lease Ltd. purchased two of the other three parcels that were up for auction in the sale for a combined $22,952.16.
The last parcel of land to fetch such a high cost was a 5,542-hectare drilling license bought by Scott Land & Lease Ltd. Last July. That license brought in over $77 million, though the cost per hectare was lower, at just under $14,000/hectare.
June’s sale saw by far the most amount of money spent by companies on acquiring land rights this year. In May companies spent just $1.3 million, though that number is higher than the lowest tally of the year in April when companies spent just over $200,000.
So far this year, the Province has generated $59.4 million from land rights sales, which is higher than the $33.4 million that was spent in all of 2015 and 2016 combined.