The June 2014 natural gas and petroleum rights sale resulted in nearly $10 million in bonus bids, contributing to the fiscal year total with over $37 million in total land sales.

The June 18, 2014, sale offered five parcels in northeastern B.C. covering 7,468 hectares. All five parcels were sold, with an average price of $1322 per hectare.

Key parcels in this month's sale included:

• Two leases in the Bubbles North - Tommy Lakes area, about 160 kilometres northwest of Fort St. John. Collectively, these two parcels earned more than $8.8 million in tender bonus at average prices ranging from $1650 to $2250 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 July 16, 2014, will offer 14 parcels covering 5,465 hectares.

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

Media Contact:

Media Relations
Ministry of Natural Gas Development
250 213-3334