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October 28, 2017 11:16 am

February Land Lease Sales Top $25M

Monday, March 3, 2014 @ 3:50 AM

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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