Industry picked up just one lease put up for grabs at this month's auctions of Crown petroleum and natural gas rights in B.C.
Buffalo Hill Resources picked up the 259-hectare lease in the Charlie Lake area for $5,500 at the June 19 sale.
With rent and other fees, the province pulled in just $7,942.50 for the month. There were no other bids for the three other leases offered.
This month's sale puts the province on pace for setting a new historic yearly low.
The province has now taken in just $2.62 million in bonus bids to date this year. A year ago, the province had taken in $59.44 million to the same period, with $70.28 million in bonus in January-to-June 2017.
The previous record low in B.C. for an annual bonus haul was $15.19 million in 2016.
The next sale is scheduled for July 17, with just one lease being offered in the Cecil Lake area.
— with file from the Daily Oil Bulletin
Email Managing Editor Matt Preprost at firstname.lastname@example.org.