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Home Energy News Only $27k brought in from July petroleum land rights sale

Only $27k brought in from July petroleum land rights sale

FORT ST. JOHN, B.C. – Though the provincial government saw a windfall of over $42 million during last month’s petroleum and natural gas land rights sale, the same can’t be said for this month’s sale.

In Wednesday’s auction, the provincial government netted just $26,938.00 from the sale of two drilling licenses, which were the only parcels of land on the auction block. The two 264-hectare parcels are located northeast of Inga Lake, around 70 kilometres northwest of Fort St. John. The two parcels were both bought by Scott Land & Lease for $7,357 and $16,732 respectively.

So far this year, petroleum land rights auctions have brought in just $59,468,373.01. That number, while still more than the roughly $33.6 million paid for land rights in 2015 and 2016 combined, is still well below the $173 million the Province earned last year.

The next petroleum land rights sale is taking place on August 15th, when three drilling licenses will be put up for auction.

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