The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) said Feb. 2 it issued significant discovery license 1060 to Equinor Canada Ltd. for its Cambriol G-92 discovery.
C-NLOPB said recoverable oil volumes from the Cambriol G-92 discovery in the Flemish Pass Basin are estimated at 340 MMbbl.
The discovery is close to the Equinor-operated Bay du Nord project, which Equinor and BP decided in May 2023 to postpone developing for up to three years. If Bay du Nord is developed, Equinor has said its nearby Cambriol and Cappahayden discoveries, in about 650 m water depth, could be tied back to it.
Equinor holds 60% in the license while partner BP Canada Energy Group ULC holds 40% interest.
Recommended Reading
CNX, Appalachia Peers Defer Completions as NatGas Prices Languish
2024-04-25 - Henry Hub blues: CNX Resources and other Appalachia producers are slashing production and deferring well completions as natural gas spot prices hover near record lows.
Proven Volumes at Aramco’s Jafurah Field Jump on New Booking Approach
2024-02-27 - Aramco’s addition of 15 Tcf of gas and 2 Bbbl of condensate brings Jafurah’s proven reserves up to 229 Tcf of gas and 75 Bbbl of condensate.
Repsol to Drop Marcellus Rig in June
2024-04-26 - Spain’s Repsol plans to drop its Marcellus Shale rig in June and reduce capex in the play due to the current U.S. gas price environment, CEO Josu Jon Imaz told analysts during a quarterly webcast.
Barnett & Beyond: Marathon, Oxy, Peers Testing Deeper Permian Zones
2024-04-29 - Marathon Oil, Occidental, Continental Resources and others are reaching under the Permian’s popular benches for new drilling locations. Analysts think there are areas of the basin where the Permian’s deeper zones can compete for capital.
TotalEnergies Acquires Eagle Ford Interest, Ups Texas NatGas Production
2024-04-08 - TotalEnergies’ 20% interest in the Eagle Ford’s Dorado Field will increase its natural gas production in Texas by 50 MMcf/d in 2024.