B.C. starts 2019 with $2 million land sale

Industry spent just over $2 million for petroleum and natural gas rights at B.C.'s first land sale of the year on Wednesday.

Four leases were sold for $1.74 million in bonus bids, covering 2,188 hectares at the January 16 sale.

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Storm Resources Ltd. picked up the largest lease, 1,396 hectares, for $252,676, near Black Creek and Laprise Creek.

Synergy Land Services, Contiguous Resources, and Buffalo Hill Resources also picked up a 264-hectare lease each around the Farrell Creek area.

Just one drilling licence sold, fetching $278,031. Contiguous Resources Ltd. picked up the 1,814-hectare licence, which includes five tracts in the Baldonnel and Cecil Lake areas.

 Industry picked up 4,002 hectares overall, at average price of $504.53 per hectare.

With rent and other fees, the province took in $2,044,391 for the month.

Year over year, sales were down from January 2018, when the province generated $12.9 million from 18 drilling licences and six leases.

There are no parcels posted for February. Industry had requested parcels for the sale, but First Nations asked for more time to review and comment due to Christmas break office closures.

Meanwhile, Alberta started 2019 with a $5.49 million sale.

For full results of the January sale, click here

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

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