Government of British Columbia

Government of British Columbia

February 25, 2010 13:47 ET

Government of British Columbia: Information Bulletin/$17 Million for February Natural Gas and Petroleum Sales

VICTORIA, BRITISH COLUMBIA--(Marketwire - Feb. 25, 2010) -



Feb. 25, 2010

Ministry of Energy, Mines and Petroleum Resources


VICTORIA - The February 2010 natural gas and petroleum sales resulted in nearly $17 million in bonus bids.

The Feb. 24 sale offered 22 parcels in northeast B.C. covering 15,374 hectares, and sold 19 parcels covering 13,256 hectares. The average price per hectare for this sale is approximately $1,271.

The key parcels in the sale included four drilling licences located in the Horn River Basin about 40 kilometres northeast of Fort Nelson with per hectare bids between $1,068 and $3,526 per hectare for a total of nearly $14.7 million.

Drilling licences provide the exclusive right to explore for natural gas by drilling wells. They are acquired by the successful bidder at the Crown sale, and primary terms are three, four or five years, depending on location.

The next sale is scheduled for March 25, 2010 and will offer 77 parcels covering 25,171 hectares.

Complete results of the sale are posted on the website of the Ministry of Energy, Mines and Petroleum Resources:

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Contact Information

  • Ministry of Energy, Mines and Petroleum Resources
    Jake Jacobs
    Media Relations
    250 952-0628
    250 213-6934 (cell)