The staff of the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) have updated the most likely Estimated Ultimate Recovery (EUR) for the Hibernia Field.
The Proven and Probable (2P) EUR for the Hibernia Field is now 1812 million barrels of oil, based on data acquired from drilling and production activities along with an updated, long-term drill schedule. The previous 2P EUR from 2014 was 1644 million barrels.
The Petroleum Resources Management System adopted by the C-NLOPB defines EUR as the quantities of petroleum estimated to be recoverable as of a given date plus the quantities that have been already produced.
Further information on estimated recoverable Reserves and Resources, including updated gas resource estimates, can be found here.
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