B.C. land sale brings $442,000 in November

One drilling licence and one lease were picked up at B.C.'s November sale of Crown petroleum and natural gas rights.

Elk Run Resources paid $393,931 for a 1,560-hectare drilling licence covering two tracts in the Cecil Lake and Baldonnel areas.

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Cougar Creek Land picked up a 259-hectare lease covering two tracts in the same area for $48,492.

Industry paid just over $442,000 in bonus bids this month, or $243 per hectare. With rent and other fees, the sale brought in $450,826.

The province has now taken in roughly $14 million in bonus bids to date this year, compared to the $63 million it saw through this time last year.

It's been a sluggish year for sales in B.C., which saw zero revenue in February, March, and July. Sales have ranged from a low of $5,500 in bonus bids in June, and a high of $8.3 million in September.

The previous record low in B.C. for an annual bonus haul was $15.19 million in 2016.

The last sale of the calendar year is scheduled for Dec. 11, with one drilling licence in the Golata Creek area being offered.

Email Managing Editor Matt Preprost at editor@ahnfsj.ca.

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