B.C. posted a second-straight multi-million dollar sale of Crown petroleum and natural gas rights in October.
Industry paid $2.37 million in bonus bids on Wednesday (Oct. 9), picking up five leases covering 2,369 hectares.
Aduro Resources Ltd. was the biggest player at the sale, picking up four leases in the Monias area for a combined $2.04 million.
Buffalo Hil Resources picked up the other lease, 1,313 hectares across two tracts in the Flatrock area, for $333,856.
Industry paid an average of $1,002 per hectare. With rent and other fees, the sale brought in $2.39 million for the month.
The province has now taken in roughly $13.5 million in bonus bids to date this year, compared to the nearly $62.5 million it saw through this time last year.
It's been a sluggish year for sales in B.C., which saw zero revenue in February, March, and July.
Sales have ranged from a low of $5,500 in bonus bids in June, and a high of $8.3 million in September.
The province has two sales left in the calendar year to raise at least $3 million and avoid setting a new historic yearly low.
The previous record low in B.C. for an annual bonus haul was $15.19 million in 2016.
The next sale is scheduled for Nov. 13, with one drilling licence and one lease on offer.
- Matt Preprost, Alaska Highway News
