Alberta oil and gas drilling rights auction results rise to $504 million in 2017

Drilling Sales Boom Bust 20160812
FILE – Heavy machinery is on display at the Global Petroleum Show in Calgary in a June 7, 2016, file photo. Five years after Alberta raised a record-setting $3.5 billion at auctions of provincially owned oil and gas drilling rights, sales are on pace this year to set a historic low, part of a downward trend seen across Western Canada.

Sales of oil and gas drilling rights in Alberta delivered almost four times as much money for the provincial treasury in 2017 compared with 2016 but the total remained well short of the record.

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