The April 2014 natural gas and petroleum rights sale, the first of the new fiscal year, resulted in over $10.3 million in bonus bids.

The April 23, 2014, sale offered 13 parcels in northeastern B.C. covering 13,327 hectares. Nine parcels were sold with an average price of $1091 per hectare.

Key parcels in this month's sale included:

• One drilling licence in the Mica area, about 35 kilometres east of Taylor. This drilling licence earned more than $5.3 million in tender bonus at an average price of $2721 per hectare.
• One lease in the Inga-Blueberry area, about 80 kilometres northwest of Fort St. John. This lease earned more than $2.6 million in tender bonus at an average price of $3124 per hectare.
  

Drilling licences provide the exclusive right to explore for petroleum and natural gas by drilling wells, and are acquired by the successful bidder at the Crown sale. Primary terms are 3, 4 or 5 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 May 21, 2014, will offer 24 parcels covering 13,156 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