Calls for Bids
In this section
A Call for Bids on exploration rights to specific petroleum land parcels is required by the Petroleum Resources Act before public land may be licensed for oil and gas exploration. The outcome of a successful call for bids is the issuance of an interest to the successful bidder for a given land parcel.
The PRA requires that a call for bids must be published and remain open for a minimum of 120 days before the closing date. Each call states the interest to be issued and lands to which it will apply, geological formations and substances to which the interest will apply, requirements to be met for acceptance of a bid, the form and manner in which a bid must be submitted, the terms and conditions to be contained in the licence, the closing date, and criteria that the Minister will apply to assess the bids.
Upon closing of the Call for Bids, all bids received are assessed against the criterion or criteria defined in the Call for Bids documentation. This is typically the value of the work proposed but may be cash value, or some other criterion stated in the call.
In the case of a typical work proposal bid, an Exploration Licence may be awarded once the winning bidder has posted a work deposit equivalent to 25 percent of the bid amount submitted and provided the issuance fee of $250 per grid area as described in the GIS Data page.
When the Minister of Industry, Tourism and Investment selects a bid, a notice will be published that contains the terms and conditions of the interest.
|Year||Area||Issue Date||Closing Date||Successful Bid|
|2014-2015||Central Mackenzie Valley||January 30, 2015||June 2, 2015|
2014-2015 Call for Bids: Central Mackenzie Valley
- Date of Launch: January 30, 2015
- Closing Date: June 2, 2015
- Notice by the Minister for ITI of the Call for Bids January 2015
- Call for Bids Package
- Call for Bids 11 x 17 map
- Call for Bids 42 x 60 map