The Canada-Newfoundland and Labrador Offshore Petroleum Board
(C-NLOPB) announced today the results of Call for Bids NL12-01 (Area “C” – Laurentian Subbasin) and Call for Bids NL12-02 (Area “C” – Flemish Pass) for exploration rights in the Newfoundland and Labrador Offshore Area. The combined result for both Calls for Bids ($116,875,875.00) is the second largest since 2007, with no unsuccessful bidders.
Call for Bids NL12-01 (Laurentian Subbasin)
The following bids, based upon the work commitments bid, have been accepted:
Parcel 1 (143 588 ha)
Shell Canada Limited 100%
$31,387,926.00
Parcel 2 (286 598 ha)
Shell Canada Limited 100%
$5,173,777.00
Parcel 3 (294 260 ha)
Shell Canada Limited 100%
$1,795,455.00
Parcel 4 (289 016 ha)
Shell Canada Limited 100%
$57,393,786.00
Parcel 5 (296 530 ha)
Shell Canada Limited 100%
$1,249,056.00
Parcel 6 (279 246 ha)
There were no bids received for Parcel 6
Total: $97,000,000.00
Call for Bids NL12-02 (Flemish Pass)
The following bid, based upon the work commitments bid, has been accepted:
Parcel 1 (208 899 ha)
Husky Oil Operations Limited 40%
Suncor Energy Inc. 35%
Repsol E & P Canada Ltd. 25%
$19,875,875.00
Total: $19,875,875.00
Subject to the bidders satisfying the requirements specified in Call for Bids NL12-01 and Call for Bids NL12-02 and upon receiving Ministerial approval, the Board will issue exploration licences for all six parcels in January 2013.
Media Contact:
Sean Kelly M.A.,APR, FCPRS
Manager of Public Relations
(709) 778-1418
(709) 689-0713 (cell)
skelly@cnlopb.nl.ca