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.