The December 2016 natural gas and petroleum rights sale has resulted in $817,190.18 in bonus bids. The calendar year total concluded at $15,190,019.15 in bonus bids.
On Dec. 14, 2016, 10 parcels were sold, covering 5,527 hectares with an average price of $147.85 per hectare.
The highest-value parcel in the sale was a drilling licence in the Rigel area, approximately 35 kilometres northeast of Fort St. John. This parcel earned $229,641.85 in tender bonus at a price of $217.67 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 Jan. 18, 2017, will offer eight parcels covering 7,764 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