The Jan. 21, 2014, geothermal tenure sale offered one parcel covering 2,865 hectares near Lakelse Lake south of Terrace, inland from Prince Rupert. The successful bid for the parcel totals $100,000.
Industry may request that geothermal rights owned by government be made available through a competitive bid process. Geothermal permits provide industry with the exclusive right to subsurface resources in that area. The proponent can apply for well authorizations to be drilled within the boundaries of a location covered by the permit.
Permits expire on the first anniversary of date of issue, but may be renewed up to seven times. If the proponent discovers a geothermal resource, they may apply to convert the permit to a lease, which provides the right to produce geothermal energy. There are annual work requirements and rent associated with a geothermal permit.
Further information on this sale, geothermal resources and the tenuring process.
