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B.C. brings in $2.1 million at October land sale

British Columbia brought in more than $2 million for the second month in a row at its Crown petroleum and natural gas rights auction. The province brought in $2.1 million at the Oct.
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B.C. faces the strong possibility of setting a new low for land sales this year, with two sales left to evade the record low of $16.72 million set in 1982. File Photo

British Columbia brought in more than $2 million for the second month in a row at its Crown petroleum and natural gas rights auction.

The province brought in $2.1 million at the Oct. 5 sale, with industry picking up 13 drilling licenses covering 11,137 hectares and a single lease covering 264 hectares. 

A total of 22 drilling licences and three leases were made available this month, with Stomp Energy Ltd. acquiring four of the drilling licences covering 3,286 hectares for a combined $998,000.

Scott Land and Lease Ltd. picked up another three licences covering 2,461 hectares for $501,332, while Plunkett Resources plunked down $161,694 for three licences covering close to 2,100 hectares. Windfall Resources paid $291,813 for three licences covering 3,394 hectares.

Scott Land and Lease, meanwhile, paid $165,728 for another 264-hectare lease.

It's the second best sale for the province this year, behind September's $2.77 million sale.

Sales this year have ranged from $1.9 million in March to $0 in February. 

Year-to-date, the province has collected roughly $10.4 million. B.C. faces the strong possibility of setting a new low for land sales this year, with two sales left to avoid the record low of $16.72 million in 1982. The province brought in $18 million last year.

The next sale is set for Nov. 2.

For full results of the October sale, click here.