Offshore oil projects off the coast of Newfoundland: The numbers


By Sarah Smellie and Alex Pierson

Sources

•••

HIBERNIA

Year of discovery: 1979
http://www.hibernia.ca/rpt/qaq/questions/why_so_long.html
First Oil: November, 1997
http://www.cnlopb.nl.ca/pdfs/off_prod.pdf
Average price of oil in 1997: $18.64/barrel
http://inflationdata.com/inflation/inflation_rate/historical_oil_prices_table.asp
Year in which project hit payout: 2009
Number of proven and probable barrels of oil there: 1,244,000,000
http://www.cnlopb.nl.ca/pdfs/estrr_hib.pdf
Number of barrels produced so far: 684,805,837
http://www.cnlopb.nl.ca/pdfs/off_prod.pdf
****Number of additional barrels of oil expected from Hibernia South: 220,000,000
http://www.thetelegram.com/index.cfm?sid=291250&sc=82
I have 172,000,000. 172,000,000 was from one block of the project. However, there are two blocks. The first is called the AA block, and it contains 48,000,000 barrels. The second, much larger, is called Hibernia South Unit, and it contains 172,000,000 barrels. Both are Hibernia South. Hence the total should be 48,000,000 + 172,000,000 = 220,000,000. See link to Telegram article, above.
•••

WHITE ROSE

Year of Discovery: 1988
http://www.subseaiq.com/data/Project.aspx?project_id=314
First Oil: November, 2005
http://www.cnlopb.nl.ca/pdfs/off_prod.pdf
Average price of oil in 2005: $50.04
http://inflationdata.com/inflation/inflation_rate/historical_oil_prices_table.asp
Number of proven and probable barrels of oil there: 283,000,000
http://www.cnlopb.nl.ca/pdfs/estrr_wr.pdf
Number of barrels produced so far: 143,549,352
http://www.cnlopb.nl.ca/pdfs/off_prod.pdf
Number of proven and probable barrels in the North Amethyst Extension: 67,900,000
http://www.cnlopb.nl.ca/pdfs/estrr_na.pdf
First Oil in North Amethyst: May 31st, 2010
http://www.huskyenergy.ca/news/2010/husky-energy-announces-oil-production-from-the-north-amethyst-field.asp
•••

TERRA NOVA

Year of Discovery: 1984
http://www.subseaiq.com/data/Project.aspx?project_id=355
First Oil: January, 2002
http://www.cnlopb.nl.ca/pdfs/off_prod.pdf
Average price of oil in 2002: $22.81
http://inflationdata.com/inflation/inflation_rate/historical_oil_prices_table.asp
Number of proven and probable barrels of oil there: 419,000,000
http://www.cnlopb.nl.ca/pdfs/estrr_tn.pdf
Number of barrels produced so far: 296,789,464
http://www.cnlopb.nl.ca/pdfs/off_prod.pdf
•••

HEBRON

Year of Discovery: 1981
http://www.exxonmobil.com/corporate/news_hebron.aspx
Expected First Oil: 2017
http://www.offshore-technology.com/projects/exxon_hebron/
Estimated Reserves: 400-700 million barrels
http://www.offshore-technology.com/projects/exxon_hebron/
Expected return from the project for the province: $20 billion
http://www.cbc.ca/canada/newfoundland-labrador/story/2008/08/20/hebron-today.html
Average oil price per barrel this estimate is based on: $87
http://www.cbc.ca/canada/newfoundland-labrador/story/2008/08/20/hebron-today.html
•••

Orphan Basin

Ongoing exploration project in this area: Lona O-55
http://www.cbc.ca/canada/newfoundland-labrador/story/2010/05/10/nl-chevron-deepwell-510.html
Seabed depth, in meters, of Lona-o55 exploration wells: 2,600
http://bit.ly/altjCJ
Seabed depth, in meters, at BP Deepwater Horizon Spill: 1,500
http://bit.ly/altjCJ
Maximum percentage of a 10,000+ barrel in the area that Chevron says it could clean up: 12
http://bit.ly/altjCJ
Number of days after the BP ol spill began that the Newfoundland Offshore Petroleum Board announced its imposition of “special oversight measures” on the project: 29

Canada: Authorities Stop Chevron Drilling Project Off Newfoundland

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