The Canada-Newfoundland and Labrador Offshore Petroleum Board
(C-NLOPB) has updated its most likely reserve estimate for the Hibernia Field as is the practice when significant new information and data is received about a reservoir. Last updated in 2010 at 1395 million barrels of oil, the reserves for the entire Hibernia Field are now estimated by the C-NLOPB to be 1644 million barrels of oil.

The following factors have contributed to the change in oil reserve estimates for the Hibernia Field:

• The Hibernia Reservoir, which includes the Hibernia Southern Extension (HSE), has increased reserve estimates based on production and drilling activities.
• The Ben Nevis-Avalon (BNA) Reservoir has increased reserve estimates due to scheduled drilling activities, new geological and reservoir data, as well as the addition of reserves from the Unit BNA area in the southern part of the BNA reservoir.
• The Catalina Reservoir, which began pilot production in 2013, was not included in the 2010 reserve assessment. Thus as a result of this production, there was a further increase in reserves for the Hibernia Field.

This deterministic reserve update represents the C-NLOPB’s current view as to the hydrocarbons that can be expected to be ultimately recovered from the entire Hibernia Field. These estimates will be reviewed again once additional development wells are drilled.

Reserve estimates and further information can be found here.

Media Contact:
Sean Kelly M.A., APR, FCPRS
Manager, Public Relations
(709) 778-1418
(709) 689-0713 (cell)
skelly@cnlopb.ca