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  • Table of Contents

    • Part 1: First Nations of the Peace River Region
    • Part 2: The Fur Trade Era
    • Part 3: Transportation and Communication
    • Part 4: Old Timers and the Price of Land
    • Part 5: Dawson Creek: The Story of the Community
    • Part 6: Mysteries, Adventures and Indian Legends
    • Part 7: Arts, Crafts and Recreation
    • Part 8: Agriculture
    • Part 9: Church Histories
    • Part 10: Schools
    • Part 11: Health Care
    • Part 12: Industries and Enterprises
    • Part 13: Policing the Peace
    • Part 14: Pouce Coupe, Rolla, and Other South Peace Communities
    • Part 15: Chetwynd and the Fort St. John Area
    • Part 16: The Alberta Peace
    • Part 17: Natural History of the Peace River Region
    • Part 18: Interviews with Old Timers
    • Part 19: Remembering Our Veterans

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BN12-42: Oil & Gas Rights Sale Nets Province $51.7 Million

Recent History – 2000

Sept. 25, 2000

DAWSON CREEK — The September sale of oil and gas rights brought in $51.7 million in revenue to the province, Energy and Mines Minister Dan Miller announced Friday.

The total is well up from the $30 million reaped for the same month last year, which, in turn, was four times higher than the revenue generated by the September 1999 sale.

“The impetus to stimulate investment and double oil and gas production in the next decade was provided by the Oil and Gas Initiative introduced by the provincial government in May 1998,” said Miller. “Sales of oil and gas rights demonstrate the rising confidence and growth of the industry and ultimately help to increase oil and gas supplies.”

“Robust land sales will lead to increased production, which is the best defence against higher prices in the long term.”

The September sale offered a total of 62 drilling licences and 40 leases, covering 140,388 hectares in northeastern B.C.

Drilling licences are forms of tenure that provide exclusive rights to apply for permission to drill oil and gas wells in a defined area.

Leases, in addition to providing exclusive drilling application rights, also convey production rights.

Fifty-seven of the licences were sold. The largest bid of $2,612,232 for a drilling licence came from Alterren Land Services Ltd. for a parcel 60 kilometres southeast of Fort Nelson. The price per hectare for this 4,334-hectare parcel was $603.

The top price per hectare of $900 came from Antelope Land Services Ltd. for a parcel 60 kilometres northwest of Hudson’s Hope. The total bid for this 1,114-hectare licence was $1,029,714.

Thirty-five of the leases were sold. The top price for a lease of $1,504 per hectare was paid by Western Land Services Co. Ltd. for a parcel 20 kilometres southwest of Fort Nelson. The total bid for this 269-hectare lease was $404,517, which was also the largest bid for a lease.

The next sale of oil and gas rights is set for Oct. 18 and will offer 66 parcels covering 92,104 hectares in northeastern B.C.

This article is taken from the Peace River Block Daily News, Dawson Creek, with the permission of the publisher. The Daily News retains all rights relating to this material. The information in this article is intended solely for research or general interest purposes.

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