2022 Eastern and South Eastern Newfoundland Regions
2022 Independent Resource Assessments Released
OilCo, the Department of Industry, Energy and Technology, and Beicip-Franlab released two Independent Oil and Gas Resource Assessments on September 27, 2022.
Results of these resource assessments show a potential of 50.3 billion barrels of oil equivalent (P50 unrisked volumes) in the Eastern and the South Eastern Newfoundland Regions.
Orphan Basin Resource Assessment (Eastern Region)
Located approximately 200 kilometres north-northeast of St. John’s, the sector lies in the western portion of the Eastern Newfoundland region and the four new parcels cover an area of approximately 10,360 square kilometres. Water depths range from 200 metres to 2,000 metres.
The 2022 Resource Assessment within the Orphan basin area demonstrates a potential for an active petroleum system with four main plays sourced by various source rocks (Upper Jurassic, Cretaceous, and Cenozoic). Basin geometry and sedimentary supply through geological time were favorable for sand reservoir distribution during the Early and Late Cretaceous and Oligocene ages – developing sand-rich turbidite systems of sand sheets, lobes, and channels.
Sedimentary and environmental conditions were favorable for marine and terrestrial organic matter preservation in marine settings during the Late Jurassic, Cretaceous, and Paleogene times.
Several geological scenarios have been tested, all calibrated on well data and seismic features. Numerous AVO anomalies suggest there is a potential working petroleum system within the four new parcels of the Eastern Newfoundland NL22-CFB01 Region.
Southern Salar Basin Resource Assessment (South Eastern Region)
Located approximately 500 kilometres southeast of St. John’s, the sector lies in the eastern portion of the South Eastern Newfoundland jurisdiction and covers an area of approximately 26,500 square kilometres. Water depths range from 300 metres to 3,800 metres.
This is the second exploration round in the South Eastern Newfoundland offshore jurisdiction. Ten parcels in the southern Salar basin are the focus of the 2022 Resource Assessment for this region.
The southern Salar basin demonstrates a potential petroleum system with reservoirs in at least four stratigraphic layers. The presence and maturation of source rocks are successfully modeled in five main layers. The timing of burial with respect to traps formation enables hydrocarbons to be trapped and sealed regionally through major stratigraphic traps in Oligocene, and potential traps in Cretaceous. Several geological scenarios have been tested, all driven by and tested against available data, such as AVO anomalies and seismic features. They provide evidence for an efficient petroleum system in the southern Salar basin.
C-NLOPB 2022 Call for Bids
On May 11, 2022, the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) announced its Calls for Bids in the Eastern Newfoundland (NL22-CFB01) and South Eastern Newfoundland (NL22-CFB02) regions.
The Eastern Newfoundland Region (Orphan basin) consists of 28 parcels of land, and the South Eastern Newfoundland Region (southern Salar basin) consists of 10 parcels of land. Four of the parcels in the Orphan basin and all 10 of the parcels in the southern Salar basin are newly posted acreage and are the focus of the two 2022 Independent Oil and Gas Resource Assessments.
For more information pertaining to this year’s Call for Bids, please visit the C-NLOPB website.