June Natural Gas and Oil Rights Sales 5th Largest in Provincial History

By 250 News

Prince George, B.C- The June 2010 natural gas and petroleum rights sale resulted in over $404 million in bonus bids, bringing the calendar year total to over $609 million.  That makes it the fifth largst sale in the Province's history.

The June  sale offered 117 parcels in northeast B.C. covering 140,012 hectares, and sold 108 parcels covering 134,216 hectares. The average price per hectare for this sale is approximately $3,012.

The key parcels in the sale included:
* Twenty-one parcels of deep rights in the Cordova Embayment region located 150 kilometres northeast of Fort Nelson. This group of parcels garnered over $260 million in bonus bids at prices ranging from $2,224 to $13,880 per hectare.
* Eight Drilling Licenses located in the Liard Basin, 135 kilometres northwest of Fort Nelson. Bonus bids totaling more than $92 million were received, ranging from $2,306 to $2,711 per hectare.
* Nine parcels in the Blueberry area, 80 kilometres northwest of Fort St. John, with per hectare bids ranging from $1,137 to $6,11

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