Oil and Gas rights Sales Good But no Record Breaker

Thursday, December 28, 2006 03:46 AM

The sale of oil and gas leases for northeastern B.C. were very good this year, but shy of a record breaker.

The sales hit $630 million in 2006, but that's about $17 million short of the all time record high set back in 2003.

Still, December sales showed strength as the average price per hectar increased to $346 from the $221 average hectare price in November.

Richard Neufeld, Minister of Energy, Mines and Petroleum Resources says the overall average price for the year was $912 per hectare. That means the price was the highest in the country, even higher than Alberta which finished the year with an average per hectare price of $811.

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Posted on Thursday, December 28, 2006 03:46 AM in News by 250 News

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Comments

Posted by: kimbo on December 28 2006 9:47 AM

I wonder if we sold any oil and gas rights in the Nechako Basin? Or is it all paper oil in the Basin. Just wondering.

Cheers

Posted by: trusted on December 29 2006 7:27 PM

Rumor has it drilling taking place in the Nazko.

Posted by: thereasonableman on December 30 2006 12:34 AM

Rigs in the Clearwater area too, apparently.

Let's not forget that the world demand is going to dramatically increase as overseas countries continue to industrialize.

Posted by: Palopu on December 30 2006 4:09 PM

Quite often the drilling turns out to be long term plans by the Government checking out the bedrock for building bridges etc; A drilling rig could also be for water. In any event, dont hold your breath.