Telegraphed

Canadian natural gas producers telegraphed intentions to continue accelerating supply development on their “near frontier” of northeastern British Columbia by setting a record at the latest monthly auction of provincial drilling rights and adding to the ten-fold increase — from the millions to the billions — in auction revenues year-to-date 2008, compared to the same period last year.

Canadian producers telegraphed intentions to keep on drilling for natural gas at maximum speed by stockpiling targets at hectic Crown mineral rights auctions in Alberta and British Columbia. Alberta netted a record C$2.3 billion (US$2 billion) on oil and gas rights sales in 2005, prompting forecasts that field activity will stay strong potentially for years to come.