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VICTORIA – The Jan. 14, 2009
sale of oil and gas land rights in British Columbia generated $7.1 million in
bonus bids, bringing the record fiscal year to over $2.39 billion.
Eighteen parcels covering 11,938 hectares in B.C. were
offered, and bids were accepted on 17 parcels covering 10,280 hectares for an
average price of $690 per hectare.
The
key parcels in the sale included:
·
A drilling
licence located approximately 42 kilometres southeast of Tumbler Ridge,
partially within the Ojay gas field, with a bid of $1,129 per hectare for a
total of over $3 million in tender bonus.
·
A drilling
licence located approximately 65 kilometres north of Hudson’s Hope, near the
Townsend gas field, with the highest average price for a parcel of $1,466 per
hectare, for a total bonus bid of $2.1 million.
·
Two leases, which
averaged $551 per hectare and received a combined $323,631 in tender bonus,
located 40 kilometres southwest of Dawson Creek, within the Sundown gas field.
Drilling
licences provide the exclusive right to explore for petroleum and natural gas
by drilling wells; they are acquired by the successful bidder at the Crown
sale; primary terms of 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 selected from permits
and drilling licences. Primary terms are five or 10 years depending on
location.
The
next sale is scheduled for Feb. 25, 2009 and will offer 98 parcels covering
32,639 hectares.
Complete
results of the sale are posted on the website of the Ministry of Energy, Mines
and Petroleum Resources: www.em.gov.bc.ca/Subwebs/landsale/results/default.htm
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contact: |
Public Affairs Officer Ministry of Energy, Mines and Petroleum Resources 250 952-0628 250 213-6934 (cell) |
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For more information on government services or to subscribe to the Province’s news feeds using RSS, visit the Province’s website at www.gov.bc.ca. |
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