Sursurface Insight Ahead of the 2020 Eastern Newfoundland and Jeanne d'Arc Call for Bids.
The 2020 East Coast Canada Call for Bids is expected to emulate the success of the recent Eastern Newfoundland bid rounds. Since 2018, over a billion dollars of successful bids have been submitted in this region by several exploration companies.
TGS, in partnership with PGS, holds the most comprehensive collection of subsurface data covering acreage being offered in the Eastern Newfoundland and Jeanne d’Arc bid round areas. This data includes 2D and 3D seismic data, interpretation studies and well data. Tablelands and North Tablelands 3D surveys cover approximately 85% of the 2020 Eastern Newfoundland bid round area. Both surveys were acquired utilizing the PGS Broadband Geostreamer® technology with 8,100 meters of offsets providing high quality imaging. In addition, the partnership has acquired additional 3D surveys situated in this region that provides detailed exploration insight into this highly prospective area.
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) is expected to publish parcel definitions in late Q1 2020 for the Eastern Newfoundland call for bids area. This call for bids will close in November 2020 with license awards to successful bidders in January 2021.
QI Provides New Subsurface Insight
In addition to the extensive 3D seismic coverage, a new Quantitative Interpretation (QI) product, driven by enhanced velocity modelling utilizing Full Waveform Inversion (FWI), is now available. This QI product, from the Tablelands 3D survey, covers approximately 600 square kilometers around the Great Barasway F-66 well area and offers a greater understanding of general lithology and fluid distribution at the reservoir level. Furthermore, This QI product also provides clarity for a number of AVO-supported leads identified in this sector of Eastern Newfoundland.
TGS holds 2D and 3D seismic data, interpretation studies, and well data in and around the area covered by the Call for Bids in the Jeanne d'Arc and Eastern Newfoundland (NL04-EN) regions.
In September 2018 Nalcor Energy-Oil and Gas and Beicip-Franlab, in partnership with the Government of Newfoundland and Labrador, released the 2018 Oil and Gas Resource Assessment results which identified an additional 11.7 billion barrels of oil and 60.2 trillion cubic feet of gas potential offshore Newfoundland. These reports can be downloaded from the Nalcor website via this LINK.
Nalcor Energy-Oil and Gas and Beicip-Franlab is expected to release a resource assessment report ahead of the November 2020 Eastern Newfoundland bid round.
North Tablelands 3D
2018 CALL FOR BIDS RESULTS NL19-CFB01
(EXPLORATION LICENCES, SOUTH EASTERN NEWFOUNDLAND REGION)
SUCCESSFUL BID AMOUNT
|8||269,799||BHP Billiton Petroleum (New Ventures) Corporation (100%)||$621,021,200|
|12||273,579||BHP Billiton Petroleum (New Ventures) Corporation (100%)||$201,021,200|
|14||159,036||Equinor Canada Ltd. (70%), Husky Oil Operations Limited (30%)||$32,231,981|
Equinor Canada Ltd. (60%), Suncor Energy Offshore Exploration Partnership (40%)
|Total Successful Bid Amount||$1,334,274,381|