The British Columbia government’s monthly natural gas and petroleum sale brought in $4.6 million in October, bringing the total revenue from the sales this year to more than $162 million.
On offer at October’s sale were 22 parcels of land in northeast B.C., totalling more than 11,000 hectares. Each of the 22 plots was sold at an average price of $410 per hectare.
Three drilling licences in the Inga area northwest of Fort St. John were sold, cumulatively, for $1.10 million, while two in the Buick Creek area, also northwest of Fort St. John, sold for a total of $1.19 million.
Drilling licences grant a company the right to drill for natural gas or petroleum. A drilling licence is acquired at the monthly sales.
For more Business in Vancouver stories on B.C. natural gas and petroleum sales, click here and here.
