B.C.'s December land sale pulls in $138,000, setting new yearly low

B.C.'s December land sale brought in $138,000 this week, setting the stage for a new all-time low in annual bonus bids from industry.

Synergy Land Services picked up the lone drilling licence on Dec. 11, a 518-hectare parcel in the Flatrock and Golata Creek area that went for $138,057.

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That brings the province's bonus bids to $14,742,420 for the year, down 77% from 2018 when industry paid just over $64 million for Crown petroleum and natural gas rights.

The last record annual low for bonus bids was $15.19 million, set in 2016.

Industry purchased the rights to 20,060 hectares this year at an average price of $735 per hectare.

Sales ranged from a low of $5,500 in June to a high of $8.3 million in September. The province saw no revenue in February, March, or July.

The sale of drilling rights is typically considered an indicator of future drilling activity. There are 11 rigs drilling in the region this week.

The Ministry of Energy has been sent a request for comment. 

2019 B.C. Land Sale Results:

January - $2,019,132 (Click here to read more)

February - $0 (Click here to read more)

March - $0 (Click here to read more)

April - $432,706 (Click here to read more)

May - $166,372 (Click here to read more)

June - $5,500 (Click here to read more)

July - $0 (Click here to read more)

August - $191,983 (Click here to read more)

September - $8,971,973 (Click here to read more)

October - $2,374,273 (Click here to read more)

November - $442,424 (Click here to read more)

December - $138,057

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

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