The December 2015 natural gas and petroleum rights sale has resulted in $4,292,927.58 in bonus bids, contributing to the fiscal year total with over $18 million in total land sales.
On Dec. 9, 2015, 20 parcels were sold, covering 16,037 hectares with an average price of $267.69 per hectare.
Key parcels in this month’s sale include:
- Six drilling licences and one lease in the Laprise Creek – Martin area, about 120 kilometres to 160 kilometres northwest of Fort St. John. Collectively, these seven parcels earned more than 2.8 million in tender bonus at prices ranging from $330 to $919 per hectare.
- A drilling licence in the Sundown area, about 35km northeast of Tumbler Ridge. This parcel earned $477,750 in tender bonus at an average price of $325 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 are 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. 20, 2016, will offer eight parcels covering 4,461 hectares.
Complete results of the sale are posted at: http://www2.gov.bc.ca/gov/content/industry/natural-gas-oil/petroleum-natural-gas-tenure/sales-results-statistics/2015-sale-results