The November 2013 natural gas and petroleum sale resulted in $54.5 million in bonus bids, bringing the calendar year total to over $217 million.

The Nov. 13, 2013, sale offered 10 parcels in northeast B.C. covering 12,597 hectares. Nine parcels were sold, with an average price of approximately $4,522 per hectare.

The key parcels in this month's sale included:

• One drilling licence and three leases in the Laprise Creek area, about 140 kilometres northwest of Fort St. John. The drilling licence earned more than $42.4 million in tender bonus at a price of approximately $6,898 per hectare. The three leases earned more than $2.2 million.
• One drilling licence in the Cypress area, about 110 kilometres northwest of Hudson's Hope. This parcel earned more than $8.9 million in tender bonus at a price of $2,888 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.

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.

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 Dec. 11, 2013, will offer 15 parcels covering 11,960 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