B.C. starts 2020 with $46K land sale

It was a quiet start to B.C.'s 2020 oil and gas land sale schedule on Wednesday.

Britt Resources picked up the two drilling licences on offer for $46,149.50, both in the Fort Nelson region.

article continues below

That's down from the $2 million the province collected at this time last year, and continues the weak trend from 2019, when B.C. set a new low watermark of $14.74 million. Land sales observers do not expect a rebound from the record-setting low last year.

The sale of drilling rights is typically considered an indicator of future drilling activity. There are 19 rigs drilling in the region this week.

During an earlier period of elevated royalty revenue dollars, the provincial government was also reaping billions in land sale money as producers acquired acreage in the Montney and Horn River during a time of high natural gas prices. 

Land sale revenue, though, has weakened considerably over the past few years, a couple of large sales notwithstanding.

— with files from the Daily Oil Bulletin

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

© Copyright Alaska Highway News


NOTE: To post a comment you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Google+ You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Alaska Highway News welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

comments powered by Disqus
Alaska Highway People's Choice 2020

Popular News

Lowest Gas Prices in Chetwynd, Dawson Creek, Fort Nelson, Fort St John, Tumbler Ridge
British Columbia Gas Prices provided by GasBuddy.com

Community Event Calendar

Find out what's happening in your community and submit your own local events.