The August 2013 natural gas and petroleum sale resulted in $20.4 million in bonus bids, bringing the calendar year total to over $154.3 million.

The Aug. 21 sale offered 10 parcels in northeast B.C. covering 7,742 hectares. Nine parcels were sold with an average price of approximately $3,056 per hectare.

The key parcel in this month's sale was a lease in the Laprise Creek - Sojer area, about 130 kilometres northwest of Fort St. John. This parcel earned more than $18.1 million at a price of $5,389 per hectare. A nearby drilling licence in the Nig Creek - Sojer area earned $500,000 at $1,837 per hectare.

Leases provide the exclusive right to produce natural gas and petroleum. 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 natural gas and petroleum 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.

Natural gas and petroleum 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 Sept. 18, 2013, will offer 11 parcels covering 9,748 hectares.

Complete results of the sale are posted at: http://www.empr.gov.bc.ca/Titles/OGTitles/SaleResults/Pages/default.aspx

Media Contact:

Sandra Steilo
Ministry of Natural Gas Development
250 952-0617