The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) updated the most likely estimated ultimate recovery (EUR) for Hibernia field offshore Newfoundland and Labrador.
The proven and probable (2P) EUR for the field is now 1.812 billion bbl oil, based on data acquired from drilling and production activities along with an updated, long-term drill schedule, C-NLOPB said in late June.
The previous 2P EUR from 2014 was 1.644 billion bbl, according to C-NLOPB staff.
C-NLOPB’s petroleum resources management system defines EUR as quantities of petroleum estimated to be recoverable as of a given date plus quantities that have already been produced.
Hibernia field is operated by Hibernia Management & Development Co. Ltd., shareholders of which include ExxonMobil Canada (33.125%), Chevron Canada Resources (26.825%), Suncor Energy (20%), Canada Hibernia Holding Corp. (8.5%), Murphy Oil (6.5%), and Equinor Canada Ltd. (5%).
