Husky discovers additional White Rose areas resources

Husky Energy has discovered additional oil resources in the White Rose area.

Offshore staff

CALGARY, Canada -- Husky Energy has discovered additional oil resources in the White Rose area. The North Amethyst E-17 well was drilled in 2008 to delineate the Ben Nevis Avalon formation (the producing formation at White Rose) and to explore the potential of a second, deeper horizon called the Hibernia formation. The Hibernia formation encountered 55 m (180 ft) of net high quality, oil-bearing reservoir containing an estimated 30 to 85 MMbbl of light crude oil. Initial studies indicate that these resources could be developed from the recently installed satellite infrastructure at North Amethyst, the company says.

The Hibernia formation resources are in addition to those discovered in the main White Rose pool in the 1980s where oil flowed from the Hibernia formation in the E-09 well. The E-09 discovery contains an estimated 100 to 250 MMbbl of light crude oil. The company will continue to evaluate and appraise the resources through additional drilling prior to finalization of development options.

“To compliment this strategy, Husky and its partner, have been successful in acquiring the NL09-1 parcel of land in the CNLOPB 2009 land sale,” says John C. S. Lau, president and CEO of Husky Energy. “This parcel is adjacent to Husky’s existing land holdings in the North Amethyst area, and will allow Husky to expedite its assessment of the potential of the Hibernia formation in the region.”

11/23/2009

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