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Newfoundland and Labrador 2016 licence round launch

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Report summary

On 7 April 2016 the Canada Newfoundland and Labrador Offshore Petroleum Board (C NLOPB) announced its 2016 call for bids. Sixteen blocks are on offer in offshore Newfoundland and Labrador covering over 3.3 million hectares (8.2 million acres). Of particular interest are nine frontier resource blocks located along the eastern extent of the Orphan Basin. While the official round launch was in April the regional resource assessment was released in August which showed estimated P50 in place resources of 25.5 bnbbl of oil and 20.6 tcf of gas.We expect high interest in this round of bidding due to the wealth of upfront data available to bidders as well as the relatively high probability of geological success for a frontier level play.

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  • Document

    Newfoundland and Labrador licence round launch 2016.xls

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    Newfoundland and Labrador 2016 licence round launch

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    Newfoundland and Labrador 2016 licence round launch

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Table of contents

Tables and charts

This report includes 8 images and tables including:

Images

  • Criteria for success
  • Blocks on offer
  • Fiscal terms comparison
  • Timeline for Active Bid Rounds
  • Future licence round areas
  • Bid timeline and expected award date

Tables

  • Summary of offered acreage
  • Potential resources in Orphan Basin plays

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