Canada upstream news

The assets currently produce approximately 28 623 boe/d, consisting of approximately 118.9 million ft3/d of natural gas, 5646 bpd of NGLs and 3161 bpd of condensate and light oil.

The Jeanne d’Arc HD3D survey borders Newfoundland’s prominent producing fields such as Hibernia, Terra Nova, White Rose, North Amethyst and Hebron.

Due to continued client interest, the second phase of GrandSPAN has now more than doubled in size from last year’s expectation to nearly 11 000 km.

IHS Markit expects average y/y supply additions to be below 100 000 bpd in the coming decade.

The assets include the 108 000 bpd Jackfish oilsands project, which comprises about 88% of the valuation.

TransGlobe Energy Corporation has announced the approval of a new development lease and an operations update.

Torngat 3D will cover approximately 3287 km2 and encompasses sections of the open acreage included in the Labrador South November 2021 bid round.

The new Northern Cascadia Subduction Zone Observatory (NCSZO) will use a “seafloor GPS” network to monitor long-term movements of the subducting Juan de Fuca plate and overriding North American tectonic plate.

The projects are expected to commence early June 2019.

Canadian Oil Sands production in 2019 will be almost 230 000 bpd lower than last year, according to ESAI Energy’s recently published North America Watch.