9.6 C
Fort St. John
Thursday, May 23, 2019
9924 101 ave Fort St. John, B.C.
Advertisement
Home Energy News $200k spent in August petroleum land rights sale

$200k spent in August petroleum land rights sale

Advertisement

FORT ST. JOHN, B.C. – After the provincial government only netted $27,000 during last month’s petroleum and natural gas land rights sale, August’s wasn’t much better.

In Wednesday’s auction, the provincial government netted just $201,872.37 from the sale of a single drilling license, which was one of only three parcels of land on the auction block. The 777-hectare parcel is located near Montney, just north of Fort St. John. Stomp Energy Ltd. purchased the parcel for $259.81 per hectare.

So far this year, petroleum land rights auctions have brought in just $59,670,245.38. 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 September 12th, when four drilling licenses and two leases will be put up for auction.

get the latest news in your inbox

Author

Advertisement

Local Events

Must Read

Canfor Taylor Pulp donates thermal imaging camera to District of Taylor...

TAYLOR, B.C. - At a District of Taylor Council Meeting on Tuesday, a new thermal imaging camera was donated to the District's Fire Department. Assistant...

Air Quality Advisory for Fort Nelson