Drilling sales surge in B.C., Al­berta

Lethbridge Herald - - BUSINESS | AGRICULTURE -

Sales of Crown drilling rights in Al­berta and B.C. have al­ready de­liv­ered more money to pro­vin­cial trea­suries this year than last year, when they gen­er­ated record low re­turns.

Oil and gas pro­duc­ers in Al­berta have paid out a to­tal of $138 mil­lion in drilling rights auc­tions so far this year, more than the $137 mil­lion they spent in all of 2016.

In Bri­tish Columbia, they’ve spent $63 mil­lion, more than quadru­ple the $15 mil­lion last year.

The fig­ures il­lus­trate grow­ing oil­patch con­fi­dence in light of stronger com­mod­ity prices this year as well as bur­geon­ing pro­duc­tion from West­ern Cana­dian shale oil and gas wells.

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