Auction Blog

Natural gas exploration companies paid $321.4 million for six drilling licences in an area, 80 kilometres north of Fort Nelson.

It was the second-highest total for one month, down from $610 million paid in July’s auction.

The total drilling-rights revenue to a record $1.8 billion since the start of the province’s fiscal year in April and $2 billion since January.

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British Columbia Gas Exploration Rights Auction

British Columbia’s monthly auction of gas and oil rights featured once on the Montney shale gas area near Dawson Creek, with some bidders paying more than $32,500 per hectare making a monthly auction record of $610 million.

The average price per hectare for a leased parcel was $24,690.

The next auction is set for Aug. 13, when British Columbia will offer 136 parcels covering 115,879 hectares.

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British Columbia oil and gas rights auction takes $610 million