The June 2016 natural gas and petroleum rights sale has resulted in $464,797.39 in bonus bids.

On June 15, 2016, 12 parcels were sold, covering 6,277 hectares with an average price of $74.05 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 July 13, 2016, will offer 19 parcels covering 5,823 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