The October 2013 natural gas and petroleum sale resulted in $4.6 million in bonus bids, bringing the calendar year total to over $162 million.

The Oct. 16 sale offered 22 parcels in northeast B.C. covering 11,237 hectares. All parcels were sold, with an average price of approximately $410 per hectare.

The key parcels in this month's sale included:

• Three drilling licences in the Inga area, about 70 kilometres northwest of Fort St. John. Collectively, these parcels earned more than $1.10 million.
• Two drilling licences in the Buick Creek West area, approximately 75 kilometres northwest of Fort St. John. These two parcels earned more than $1.19 million collectively.

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 Nov. 13, 2013, will offer 10 parcels covering 12,597 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