The Newfoundland and Labrador offshore area has sustained significant levels of industry interest in its highly prospective offshore basins, setting geoscience acquisition records, and welcoming 7 new entrants in the last 2 years. Newfoundland and Labrador’s offshore area is underexplored, with only 171 exploration wells drilled across an area that is 2.5 times larger than the North Sea and 2 times larger than that of the Gulf of Mexico*.
In April 2018, the Canada-Newfoundland Offshore Petroleum Board (C-NLOPB) announced a Call for Bids in the Eastern Newfoundland and Jeanne d’Arc land tenure regions. The Call for Bids closed on November 7, 2018 and brought in record work expenditure bids totaling C$1.39 million. A recent independent study estimates the 2018 Calls for Bids parcels have a resource potential of 11.7 billion barrels of oil and 60.2 trillion cubic feet of natural gas.
The next Call for Bids is scheduled to be in the South Eastern Newfoundland land tenure region. It will be announced in the spring of 2019 with an expected closing date in November 2019.
In preparation for this forthcoming and future licence rounds, Newfoundland and Labrador, Department of Natural Resources is providing access to available G&G data via a Virtual Data Room platform (VDR). Zebra Data is pleased to announce they will be supporting Newfoundland and Labrador as their chosen service provider. Utilising the industry renowned EzDataRoom® Web VDR platform, ZDS will be showcasing a wide range of original data from the region. Access to the VDR will be on a subscription basis and made available only after the completion of a Confidentiality Agreement and with Natural Resources consent.