East Coast Canada November 2019 Lease Sale 

South Eastern Newfoundland and Jeanne d'Arc

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) announced the results of their April 2019 Call for Bids on November 6, 2019
for Exploration Licenses in the South Eastern Newfoundland and Jeanne d’Arc Regions.

Interested parties had until 12:00 p.m. NST on November 6, 2019 to submit sealed bids for the parcels offered in these Calls for Bids which included nine parcels (2,270,472 hectares) in the South Eastern Newfoundland region (NL19-CFB01) and four parcels (464,877 hectares) in the Jeanne d’Arc region (NL19-CFB02).

For a full overview of available TGS subsurface data in this region, including seismic (in partnership with PGS), well data, Interpretation Studies, a Facies Map Browser and Play Fairway Analysis, take a look at our Story Map. 


Lease Sale Results

Bid results were as follows:

2019 CALL FOR BIDS RESULTS NL19-CFB01
(EXPLORATION LICENCES, SOUTH EASTERN NEWFOUNDLAND REGION)

PARCEL HECTARES SUCCESSFUL BIDDERS SUCCESSFUL BID AMOUNT
4 239,921 ExxonMobil Canada Ltd. (100%) $10,135,948
Total Successful Bid Amount $10,135,948

 

2019 CALL FOR BIDS RESULTS NL19-CFB02
(EXPLORATION LICENCES, JEANNE D’ARC REGION)

PARCEL HECTARES SUCCESSFUL BIDDERS SUCCESSFUL BID AMOUNT
2 111,317 ExxonMobil Canada Ltd. (100%) $10,449,996
3 76,737 Husky Oil Operations Limited (72.5%)
Suncor Energy Offshore Exploration
Partnership (27.5%)
$18,022,500
Total Successful Bid Amount $28,472,496

 


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TGS holds 2D and 3D seismic data, interpretation studies, facies mapping products and well data in and around the area covered by the Call for Bids (NL19-CFB01) in the Jeanne d'Arc and South Eastern Newfoundland regions.


Prospectivity Insight

In October 2019 Nalcor Energy-Oil and Gas and Beicip-Franlab, in partnership with the Government of Newfoundland and Labrador, released the 2019 Oil and Gas Resource Assessment results which identified an additional 3 billion barrels of oil and 5.8 trillion cubic feet of gas potential offshore Newfoundland. The full report can be downloaded from the NALCOR website via this LINK.

Contact a TGS Seismic Rep