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News Releases 2016
C-NLOPB Releases Results for 2016 Calls for Bids
November 9, 2016
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) is announcing the results of Call for Bids NL16-CFB01 in the Eastern Newfoundland Region and Call for Bids NL16-CFB02 in the Jeanne d’Arc Region, both located in the Canada-Newfoundland and Labrador Offshore Area. 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 both Calls for Bids is $757,989,794 in work commitments. The results of each Call for Bids are listed below.
Call for Bids NL16-CFB01 (Eastern Newfoundland Region)
Call for Bids NL16-CFB01 (Eastern Newfoundland Region) offered 13 parcels totaling 2 949 252 hectares.
The total value of the bids is $513,972,018 in work commitments. Overall, seven bids were submitted and six parcels were awarded in the NL16-CFB01 licencing round, with the results as follows:
| 2016 Call for Bids Results NL16-CFB01 (Eastern Newfoundland Region) | |||
|---|---|---|---|
| Parcel | Hectares | Successful Bidders | Successful Bid Amount |
| Parcel 3 | 233 654 | BP Canada Energy Group ULC (50%) Hess Canada Oil and Gas ULC (25%) Noble Energy Canada LLC (25%) | $276,305,000 |
| Parcel 4 | 192 807 | BP Canada Energy Group ULC (50%) Hess Canada Oil and Gas ULC (25%) Noble Energy Canada LLC (25%) | $12,050,000 |
| Parcel 7 | 202 138 | Navitas Petroleum Ltd. (30%) DKL Investments Ltd. (70%) | $48,000,018 |
| Parcel 8 | 252 482 | BP Canada Energy Group ULC (50%) Hess Canada Oil and Gas ULC (25%) Noble Energy Canada LLC (25%) | $125,250,000 |
| Parcel 10 | 264 249 | BP Canada Energy Group ULC (60%) Noble Energy Canada LLC (40%) | $12,200,000 |
| Parcel 13 | 169 578 | Nexen Energy ULC (100%) | $40,167,000 |
| Total Successful Bid Amount | $513,972,018 | ||
Call for Bids NL16-CFB02 (Jeanne d’Arc Region)
Call for Bids NL16-CFB02 (Jeanne d’Arc Region) offered three parcels totaling 353 843 hectares.
The total value of the bids is $244,017,776 in work commitments. Overall, three bids were submitted and two parcels were awarded in the NL16-CFB02 licencing round, with the results as follows:
| 2016 Call for Bids Results NL16-CFB02 (Jeanne d’Arc Region) | |||
|---|---|---|---|
| Parcel | Hectares | Successful Bidders | Successful Bid Amount |
| Parcel 1 | 138 339 | Husky Oil Operations Limited (100%) | $155,008,888 |
| Parcel 2 | 73 235 | Husky Oil Operations Limited (100%) | $89,008,888 |
| Total Successful Bid Amount | $244,017,776 | ||
Subject to the bidders satisfying the requirements specified in Call for Bids NL16-CFB01 and NL16-CFB02 and upon receiving Ministerial approval, the Board will issue exploration licences to the successful bidders in January 2017.
Media Contact:
Sean Kelly APR, FCPRS
Manager, Public Relations
(709) 778-1418
(709) 689-0713 (cell)
skelly@cnlopb.ca