The July 2014 natural gas and petroleum rights sale has resulted in nearly $3 million in bonus bids, contributing to the fiscal year total with over $40 million in total land sales.

The July 16 sale offered 13 parcels in northeastern B.C. covering 5,054 hectares. Eleven parcels were sold, with an average price of $678 per hectare.

Key parcels in this month's sale included:

Three drilling licences in the Laprise Creek area, about 150 kilometres northwest of Fort St. John. Collectively, these three parcels earned more than $1.9 million in tender bonus at average prices ranging from $1,010 to $1,515 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 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 Aug. 13, 2014, will offer 13 parcels covering 7,737 hectares.

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