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JUNE OIL AND GAS
RIGHTS SALE MAINTAINS RECORD PACE |
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VICTORIA – The June 18,
2008 sale of oil and gas rights remains robust with $213 million in bonus bids.
Yesterday’s sale brings the fiscal year-to-date total to $693.9 million,
Minister of Energy, Mines and Petroleum Resources Richard Neufeld announced
today.
“B.C. remains competitive. Just last month we set several
new records and this month’s sale continues to be strong,” said Neufeld.
“B.C.’s resource potential is proven, and these remarkable results are
continuing.”
The June
18, 2008 sale offered 99 parcels in northeast B.C. covering 61,482 hectares,
and sold 89 parcels covering 58,835 hectares. The average price per hectare was
$3,623.
“Much of
our continued success can be attributed to our investment, infrastructure and
royalty programs,” Neufeld added. “This continuing productivity and value of
the oil and gas sector shows a strong future for British Columbia.”
Key
parcels in the sale included 22 within the Horn River Basin – 16 drilling
licenses and six leases – covering 33,209 hectares. The total tender bonus
received for the 22 parcels was $162.2 million. The overall average price paid
within the Horn River Basin was $4,883.31 per hectare.
The 16
drilling licenses covered 31,627 hectares and were disposed at an average price
of $5,082.73 per hectare for a tender bonus of $160.7 million.
The six
leases covered 1,582 hectares and earned $1.4 million in tender bonus at an
average price of $896.51 per hectare.
In total
these 22 parcels, plus one parcel within the Montney trend, account for $198.8
million, or approx 93 per cent of the total tender bonus of over $213 million.
The next
sale is scheduled for July 16, 2008 and will offer 149 parcels covering 134,197
hectares.
Complete
results of the sale and additional statistics are posted on the Ministry of
Energy,
Mines and Petroleum
Resources website: www.em.gov.bc.ca/Subwebs/Landsale/results/default.htm
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contact: |
Public Affairs Officer Ministry of Energy, Mines and Petroleum Resources 250 952-0628 250 213-6934 (cell) |
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