Husky acquires two parcels in offshore Labrador land sale

Husky Energy has acquired two parcels (blocks 1 and 3) at the Canada-Newfoundland and Labrador Offshore Petroleum Board's (C-NLOPB) offshore Labrador land sale on Sept. 10.

Offshore staff

CALGARY, Canada -- Husky Energy has acquired two parcels (blocks 1 and 3) at the Canada-Newfoundland and Labrador Offshore Petroleum Board's (C-NLOPB) offshore Labrador land sale on Sept. 10.

- Parcel NL07-2-1, block 1 (236,981 hectares) work commitment of $10,162,800 Husky (100%).
- Parcel NL07-2-3, block 3 (233,712 hectares) work commitment of $120,166,880 Husky (75%), Suncor (25%).

Husky currently has a 17.13% working interest in the Bjarni and North Bjarni Significant Discovery Licenses (SDLs), which are located within NL07-2-3. The company also has a 17.13% interest in the Gudrid SDL, which is located within Parcel NL07-2-1.

The C-NLOPB estimates that the Bjarni and North Bjarni discoveries hold natural gas resources of 3.1 tcf and the Gudrid discovery holds 0.9 tcf effective 2007/2008. In addition, Husky also has 17% to 19% working interests in the two other SDLs on the Labrador shelf. Further delineation drilling will be required on these discoveries to allow for advancement of development plans in the future, the company says.

09/12/2008

More in Home