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VICTORIA – The April 23, 2008 sale of oil and gas land rights in northeast British Columbia generated $39.5 million in bonus bids.
Forty-one parcels covering 26,939 hectares in northeast B.C. were offered, and bids were accepted on 31 for an average price of $2,635 per hectare.
The key parcels in the sale were three drilling licences located approximately 20 kilometres southwest of Fort St. John, just east of the Monias gas field: two licences generated bids totalling more than $5.4 and $8.1 million for an average of more than $10,230 per hectare and the third licence bid totalled nearly $7.5 million.
The overall average price for drilling licences of $3,638 per hectare set an all-time record, eclipsing the old record of $3,028 per hectare set in September 2007.
The next sale is scheduled for May 21, 2008 and will offer 40 parcels covering 46,284 hectares.
The calendar year-to-date totals for B.C.’s 2008 oil and gas right sales are 169,744 hectares disposed, $317.1 million tender bonus and an average price per hectare of $1,868.
Complete results of the sale are posted on the website of the Ministry of Energy, Mines and Petroleum Resources: www.em.gov.bc.ca/Subwebs/landsale/results/default.htm
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Public Affairs Officer Ministry of Energy, Mines and Petroleum Resources 250 952-0628 250 213-6934 (cell) |
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For more information on government services or to subscribe to the Province’s news feeds using RSS, visit the Province’s website at www.gov.bc.ca. |
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