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Tuesday, January 22, 2019
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Home Energy News $200k spent in August petroleum land rights sale

$200k spent in August petroleum land rights sale

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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.

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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.

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