No bids at B.C.'s July oil and gas sale

There was no interest from industry in the lone oil and gas lease up for grabs at the provincial land sale this month.

The 264-hectare lease in the Cecil Lake area went unsold at the July 17 sale. It's the third month this year the province has failed to realize returns at its monthly auction of Crown petroleum and gas rights: it did not hold a sale in February, and saw no bids for a 1,116-hectare lease near Laprise Creek in March.

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The province has taken in just $2.62 million in bonus bids to date this year — far short of the nearly $60 million it saw through the this time last year.

The next sale is scheduled for August 14, with just six leases being offered.

Meanwhile, Alberta brought in close to $9 million at its July 17 sale, according to the Daily Oil Bulletin.

That includes three prospective parcels in the Montney for $3.61 million, and a group of 16 sections in the Peace River oilsands area for $1.82 million, according to the Bulletin.

Alberta has earned nearly $71 million in bids this year, down nearly 70% year-over-year, according to the Bulletin.

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

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