The March 2013 petroleum and natural gas rights sale resulted in over $41 million in bonus bids, bringing the fiscal year total to over $115,240,077.
The March sale offered 25 parcels in northeast B.C. covering 13,660 hectares. Nineteen parcels were sold with an average price of approximately $3,550 per hectare.
Key parcels in this month's sale included:
- One drilling licence and five leases in the Aitken Creek - Beg area, about 100 kilometres northwest of Fort St. John. Collectively, these six parcels earned more than $11 million in tender bonus at prices ranging from $4,090 to $6,298 per hectare.
- Three drilling licences and one lease in the Nig Creek area, about 115 kilometres northwest of Fort St. John. Collectively, these four parcels earned more than $24 million in tender bonus at prices ranging from $2,784 to $3,926 per hectare.
- One lease in the Blair Creek area, about 100 kilometres northwest of Hudson's Hope. This lease earned more than $1.8 million in tender bonus at a price of $6,388 per hectare.
Petroleum and natural gas activities play a vital role in B.C., generating significant wealth and employing thousands of British Columbians. Revenues from rights sales provide immediate economic benefits, funding social programs and infrastructure development in communities throughout the province.
The next sale, scheduled for April 24, 2013, will offer 20 parcels covering 19, 319 hectares.
Rich Coleman, Minister of Energy, Mines and Natural Gas -
"This month's land sale is another sign that our natural gas is stimulating interest from both Canadian and international investors. We've created a positive climate for growth and business development, creating jobs and economic opportunities that will benefit British Columbians for generations to come."
- Leases provide the exclusive right to produce petroleum and natural gas. They are acquired by the successful bidder at the Crown sale, or selected from permits and drilling licences. Primary terms are five or 10 years, depending on location.
- Drilling licences provide the exclusive right to explore for petroleum and natural gas by drilling wells; they are acquired by the successful bidder at the Crown sale; primary terms are three, four or five years depending on location.
Complete results of the sale are posted at: http://www.empr.gov.bc.ca/Titles/OGTitles/SaleResults/Pages/default.aspx
British Columbia's Natural Gas Strategy: Fuelling B.C.'s Economy for the Next Decade and Beyond guides and supports important development with a total of 50 action items to help grow and diversify B.C.'s natural gas sector. This report can be found at: http://www.empr.gov.bc.ca/OG/NGS/Pages/default.aspx
The LNG Strategy One Year Update report can be found on the Ministry of Energy, Mines and Natural Gas website at: www.gov.bc.ca/ener
Ministry of Energy, Mines and Natural Gas