The February 2015 natural gas and petroleum rights sale resulted in $619,961 in bonus bids, contributing to the fiscal year total with over $330 million in total land sales.

The Feb. 25, 2015, sale resulted in six parcels being sold, covering 3,037 hectares with an average price of $204 per hectare.

The highest bid per hectare was for a drilling licence in the Trutch area, about 190 kilometres northwest of Fort St. John. This parcel earned $207,063 in tender bonus at an average price of $374 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 March 25, 2015, will offer 12 parcels covering 10,717 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