B.C. pulls in $2.1 million at October land sale

Industry paid more than $2 million for eight leases and five drilling licences at B.C.'s sale of petroleum and natural gas rights this week.

The province sold a total of 8,200 hectares for an average price of $254.88 at the Oct. 10 sale.

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Of that, five drilling licences covering 5,503 hectares sold at an average price of $266.97.

Contiguous Resources Ltd. paid the land sale high for a licence, $779,724 for a 1,029-hectare parcel containing two tracts in the Flatrock area.

BASM Land & Resources Ltd. paid $440,820 for a licence on a 779-hectare parcel containing two tracts in the Flatrock area.

Buffalo Hill Resources Ltd. paid $212,125 for a licence on a 3,167-hectare parcel containing three tracts near Halfway River First Nation.

Cougar Creek Land Ltd. paid $36,450 for two licences, each covering 264 hectares in the Wonowon area.

The province sold eight leases covering 2,697 hectares at an average price of $230.21.

Primavera Resources Corp. paid $15,600 for four 260-hectare leases in the Charlie Lake area south of the Alaska Highway.

Basm Land and Resources Ltd. paid $15,540 for a 259-hectare lease in Montney.

Cougar Creek Land paid $150,855 for a 280-hectare lease.

Storm Resources paid $352,380 for one 839-hectare lease, and $86,490 for another 279-hectare lease.

With rent and other fees, the province took in $2.1 million for October.

The province has collected around $62.5 million at land sales so far in 2018.

Click here for full sale results.

The next sale is Nov. 14. 

Email Managing Editor Matt Preprost at editor@ahnfsj.ca.

@ Copyright 2018 Pipeline News North

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