The December 2014 natural gas and petroleum rights sale has resulted in over $38 million in bonus bids, contributing to the fiscal year total with over $330 million in total land sales.

The Dec. 10, 2014, sale resulted in 26 parcels being sold, covering 27,107 hectares with an average price of $1,720 per hectare.

Key parcels in this month's sale included:

• Four drilling licences in the Mika - Two Rivers area, about 35 kilometres north of Dawson Creek. Together, these parcels earned more than $15.9 million in tender bonus at average prices of $2,639, $4,339, $4,375 and $4,545 per hectare.
• Three drilling licences in the Swan Lake - Tupper Creek area, about 30 kilometres south of Dawson Creek. Collectively, these parcels earned more than $11.1 million in tender bonus at average prices of $2,321, $3,746, and $5,405 per hectare.
• One drilling licence in the Laprise Creek area, about 135 kilometres northwest of Fort St. John. This parcel earned more than $4.9 million in tender bonus at an average price of $2,235 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 Jan. 21, 2015, will offer 18 parcels covering 9,877 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