Sales of 2017 oil and gas drilling rights in Alberta raise $504 million

By The Canadian Press
December 21, 2017 - 7:34am

CALGARY- Sales of oil and gas drilling rights in Alberta delivered almost four times as much money for the provincial treasury in 2017 compared with the year earlier -- but the total remained well short of the record.

Alberta Energy reports receiving 18-million dollars in yesterday's auction, the last of the year.

That brings the total for 2017 to 504-million dollars, 3.7 times as much as the 137-million in netted in 2016.

The record was 3.5-billion in 2011.

The sales give oil and gas companies the right to drill exploration wells on land where the mineral rights are owned by the province, and are considered a key indicator of future drilling activity.

(The Canadian Press)


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