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Service Description: The Alberta tenure system facilitates the leasing of rights that enable companies to explore for and develop petroleum and natural gas from Alberta's resources, for the benefit of Albertans. Public offerings (or sales) of petroleum and natural gas rights are held and results are reported approximately every two weeks, the contents of the sale are determined by industry client requests. After each sale, Crown petroleum and natural gas rights are issued in the form of licences or leases to the highest bidder on each parcel.A petroleum and natural gas licence has an initial term of 2, 4, or 5 years, depending on the region of the province in which the agreement falls. Rights in an initial term licence are validated by drilling a well on the licence or by using sections earned by validating wells on licences that meet established criteria. The area and sections earned depends on depth drilled and geological zones evaluated. Once validated, rights are continued into a 5 year intermediate term.https://www.alberta.ca/tenure-overview.aspx
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Service Item Id: 904e3186a4e34627ae63a771665c85f8
Copyright Text: Alberta Energy, Government of Alberta
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Title: Map
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Keywords: Economy,Alberta Regional Boundaries,Northern,Plains,Foothills
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