BC posts $98 million in natural gas land lease sales

Despite low natural gas prices, British Columbia posted a better then expected $98 million in land lease sales for the month of August. Sales were primarily from buyers of natural gas targets in northeast British Columbia. The year to date total for 2010 is now $760 million.

Energy, Mines and Petroleum Resources Minister Bill Bennett stated:

“This sale, like others this year, is larger than predicted and is more evidence of the confidence the international investment community has in British Columbia’s natural gas and petroleum resources.  This confidence, matched with our rich resources, is powering our economic recovery, creating good jobs for families and revenues for government.”

The  August 25 sale was for  81 parcels totalling 34,349 hectares in northeast BC of which 68 parcels totalling 31,052 hectares were sold at an average price of $3,160. The next sale is on September 22, offering 71 parcels covering 35,197 hectares.

For complete information on all land lease sales go to: http://bit.ly/cnB0E1

Press Release: $98 Million for Natural Gas and Petroleum Sale

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One response to “BC posts $98 million in natural gas land lease sales

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