The April 2015 natural gas and petroleum rights sale resulted in $203,532 in bonus bids, the first sale of the fiscal year.

The April 22, 2015, sale resulted in four parcels being sold, covering 2,526 hectares with an average price of $81 per hectare.

The highest bid per hectare was a drilling licence in the Tommy Lakes area, about 160 kilometres northwest of Fort St. John. The parcel earned $140,484 in tender bonus at an average price of $253 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 May 20, 2015, will offer 13 parcels covering 9,054 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