By OGJ editors
HOUSTON, Jan. 17 -- Husky Energy Inc., Calgary, acquired exploration rights for two parcels covering 15,615 hectares in the Jeanne d'Arc basin, 350 km east of St. John's, Newf.
Husky acquired the rights in a recent Canada-Newfoundland Labrador Offshore Petroleum Board sale. Last year, Husky began production from White Rose oil field in the Jeanne d'Arc basin (OGJ Online, Nov. 14, 2005).
John C.S. Lau, Husky president and chief executive officer, said that Husky views existing White Rose infrastructure as a platform for growth across the basin.
One of the largest basin landholders, Husky holds two production licenses and other exploration licenses off Newfoundland and Labrador.
In 2006, Husky plans to spend $350 million on its East Coast operations, including drilling and completion of a fourth well at White Rose and delineation of reserves in the North Avalon pool, adjacent to South Avalon pool.
Husky, operator of the $2.35 billion White Rose project, anticipates peak production of 100,000 b/d of oil in the first half of this year. The company estimates the field's probable reserves at 200-250 million bbl (OGJ Online, Aug. 12, 2004). Husky holds 72.5% interest in the field, and Petro-Canada, 27.5% (OGJ Online, Aug. 28, 2005).
