October Oil and Gas Rights Sales Draw $151 Million

Thursday, October 16, 2008 12:36 PM

The October sale of oil and gas rights resulted in a total of over $151 million in bonus bids. Yesterday's sale brings the fiscal year-to-date total to $2.17 billion in oil and gas rights sales.

The Oct. 15 sale offered 118 parcels in northeast B.C. covering 75,237 hectares, and sold 99 parcels covering 68,429 hectares. The average price per hectare was $2,214.

The key parcels in the sale included:

* One drilling licenses with a bid of over $8,000 per hectare, for a total of over $9.8 million, located in the Kobes-Altares Field, 70 km west of Fort St. John.
* Seven drilling licenses with bids of between $4,600 and $5,600 per hectare for a total of almost $76 million located in the Western Horn River Basin, and approximately 15 km southeast of the Windflower Field and 80 km north of Fort Nelson.
* Two lease bids of over $20,400 and $27,250 per hectare for a total of approximately $12 million located in the Sunset Prairie Field, which includes the Montney Play, 40 km northwest of Dawson Creek.

The next sale is scheduled for Nov. 12 and will offer 57 parcels covering 41,793 hectares.

Previous Story - Next Story

Email |

Print |

Facebook |

Twitter |

Digg |

Del.icio.us

Posted on Thursday, October 16, 2008 12:36 PM in News by 250 News

Return to Home

Comments

Posted by: Eagleone on October 16 2008 3:00 PM

The government of BC is more today like a corporation that acts as an enabler of other corporations both foreign and domestic to generate mutual profits at the expense of other stakeholders in society like the citizens of BC themselves. A corporate government of this type doesn't represent the interests of its citizens in the long term even if it generates short term profits for the government. All BC Crown lands are considered by government policy to be solely the domain of corporate opportunities, and the regular citizens and small business operators need not apply. That is the the current land use policy in this province. Future generations are deemed expendable to the slavery of their corporate employers by the political profiteers of today.

Gordon Campbell can't sell every last resource right he can to the corporate fake money people quick enough IMO. He intends to leave nothing for the citizens... Crown lands and resources is already like a holding company for the corporate pilferage... and bears no resemblance to the commonly thought idea that Crown lands is something that is a public ownership for the interest of BC citizens.

Posted by: YamaDooPolCat on October 16 2008 3:40 PM

The regular policy citizens and small business corporate employers operators apply fake holding money at the enabler expense of expendable mutual profits in this province of BC themselves right, he can represent political profiteers pilferage public policy interest is something public ownership can commonly sell the corporate citizens both foreign slavery and resources.

Really? corporate employers corporation corporations corporate government corporate opportunities corporate employers corporate fake corporate pilferage, and what is it called when it is a government corporation like BCRail or the rest of them? Mob owned?

Posted by: acrider54 on October 16 2008 4:13 PM

Well I'm not even going to try to figure out what Yama's trying to say, but watch the price of fuel rise in the next little while. The Fedral election is over and the barrel is down to $73.00 so there is big money to be made by the big corporations or corporate or whatever.

Posted by: He speaks on October 16 2008 4:35 PM

Just creaming of the gas companies. The BC government got this one right, in that we are all getting the piece of the action.