February Land Lease Sales Top $25M
Prince George, BC – The provincial government says while only nine parcels of land were sold in last month's natural gas and petroleum sale, they were rich in natural resources – resulting in more than $25-million dollars in bonus bids.
A total of 17 parcels in northeastern BC were offered in the February 26th sale. The nine parcels snapped up went for an average price of $4,246 per hectare. Officials with the Ministry of Natural Gas Development say a key parcel included a lease in an area approximately 80-kilometres northwest of Fort St. John.
The lease earned more than $2.2-million dollars in tender bonus. Leases provide the successful bidder at the Crown sale exclusive right to produce petroleum and natural gas. Primary terms are for five or 10-years.
The February sale increases the government's fiscal year total to just over $200-million dollars.
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