The November 2014 natural gas and petroleum rights sale resulted in $209 million in bonus bids, contributing to the fiscal year total with over $290 million in total land sales.

The Nov. 5, 2014, sale resulted in twenty eight parcels being sold, covering 28,836 hectares with an average price of $7,267 per hectare.

Key parcels in this month's sale included:

• Two drilling licences in the Kobes-Townsend-Halfway area, about 60 kilometres north of Hudson's Hope. Together, these two parcels earned more than $190 million in tender bonus at average prices of $18,008 and $14,808 per hectare.
• One drilling licence in the Laprise Creek area, about 150 kilometres northwest of Fort St. John. The parcel earned more than $5 million in tender bonus at an average price of $4,554 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 is scheduled for Dec. 10, 2014, and will offer 39 parcels covering 31,888 hectares.

Learn More:

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