The September 2013 natural gas and petroleum sale has resulted in $3.5 million in bonus bids, bringing the calendar year total to over $157 million.

The Sept. 18 sale offered 10 parcels in northeast B.C. Five parcels covering 1,433 hectares were sold, with an average price of approximately $2,502 per hectare.

The key parcel in the disposition included four drilling licences in the Inga - Inga North area, about 70 kilometres northwest of Fort St. John. Collectively, these four parcels earned more than $3.4 million in tender bonus at an average price of $2,977 per hectare.

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. by 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 Oct. 16, 2013, will offer 22 parcels covering 11,237 hectares.

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

Contact:

Sandra Steilo
Ministry of Natural Gas Development
250 952-0617