The April 2016 natural gas and petroleum rights sale has resulted in $375,251.18 in bonus bids.

On April 20, 2016, 16 parcels were sold, covering 5,229 hectares with an average price of $71.76 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.

The next sale, scheduled for May 18, 2016, will offer 15 parcels covering 7,735 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/2016-sale-results