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News Releases 2015
C-NLOPB Releases Results for 2015 Call for Bids
November 12, 2015
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) is announcing the results of the first Call for Bids in the Eastern Newfoundland Region under the Scheduled Land Tenure System in the Canada-Newfoundland and Labrador Offshore Area.
Call for Bids NL15-01EN offered 11 parcels totaling 2,581,655 hectares. The sole criterion for selecting a winning bid is the total amount of money the bidder commits to spend on exploration of the parcel during Period I (the first period of a nine-year licence). The minimum bid for each parcel offered is $10,000,000 in work commitments.
The total value of the bids is $1,204,953,713 in work commitments. Overall, 13 bids were submitted, 9 companies participated and 7 parcels were awarded in the NL15-01EN licencing round, with the results as follows:
2015 Call for Bids Results (NL15-01EN)
| Parcel | Hectares | Successful Bidder | Successful Bid Amount |
|---|---|---|---|
| NL15-01-01 | 269 024 | NA | NA |
| NL15-01-02 | 274 732 | Chevron Canada Limited 35% Statoil Canada Ltd. 35% BG International Limited 30% | $43,175,000.00 |
| NL15-01-03 | 248 878 | NA | NA |
| NL15-01-04 | 264 249 | NA | NA |
| NL15-01-05 | 267 403 | Statoil Canada Ltd. 40% ExxonMobil Canada Ltd. 35% BG International Limited 25% | $11,030,633.00 |
| NL15-01-06 | 262 230 | Statoil Canada Ltd. 34% ExxonMobil Canada Ltd. 33% BP Canada Energy Group ULC 33% | $225,158,741.00 |
| NL15-01-07 | 254 321 | Statoil Canada Ltd. 34% ExxonMobil Canada Ltd. 33% BP Canada Energy Group ULC 33% | $206,258,741.00 |
| NL15-01-08 | 268 755 | Statoil Canada Limited 50% BP Canada Energy Group ULC 50% | $35,140,653.00 |
| NL15-01-09 | 139 477 | Statoil Canada Ltd. 100% | $423,189,945.00 |
| NL15-01-10 | 163 008 | Nexen Energy ULC 100% | $261,000,000.00 |
| NL15-01-11 | 169 578 | NA | NA |
| Total Successful Bid Amount | $1,204,953,713.00 |
Subject to the bidders satisfying the requirements specified in Call for Bids NL15-01EN and upon receiving Ministerial approval, the Board will issue exploration licences to the successful bidders in January 2016.
Media Contact:
Sean Kelly M.A., APR, FCPRS
Manager of Public Relations
(709) 778-1418
(709) 689-0713 (cell)
skelly@cnlopb.ca