July Oil And Gas Sales Top $6M
Monday, July 29, 2013 @ 3:55 AM
Prince George, BC – Of the 19 parcels in Northeast BC up for grabs in July’s natural gas and petroleum sale, 14 were sold for a total price tag of $6.39-million dollars.
That figure brings year-to-date sales to just over $133-million.
Two key parcels in this month’s sale included two drilling licences in an area approximately 25-kilometres south of Taylor valued at $2.47-million dollars. And a lease in the Nig Creek area, 110-kilometres northwest of Fort St. John, earning more than $480-thousand dollars in tender.
Drilling licences provide the successful bidder with the exclusive right to explore for natural gas and petroleum by drilling wells, while leases provide the exclusive right to produce natural gas and petroleum.
Comments
Charles Reid CEO of BC Hydro, stated that if he could be guaranteed a 100 year supply of natural gas at relatively cheap prices he would support building gas plants, to supply BC with electricity rather than Site C.
Interesting comment when one considers that BC owns the rights to all the natural gas. One could easily set up a Natural Gas Exploration Co., with the sole purpose of supplying natural gas (cheap) to the BC Government for the next 100 years.
This should be relatively easy to do, and solve many problems. Whats the chances??
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