Canadian Superior Acquires Offshore Acreage

Wednesday, November 07, 2001
Canadian Superior Energy Inc. acquired two major exploration licenses offshore Nova Scotia from the Canada-Nova Scotia Offshore Petroleum Board. It has been advised by the Canada-Nova Scotia Offshore Petroleum Board that Canadian Superior was successful in acquiring two large offshore drilling licenses totaling 822,000 acres offshore Nova Scotia at the Canada-Nova Scotia Offshore Petroleum Board's November 1, 2001 Land Sale (See Canadian Superior's website at www.cansup.com to view "Offshore Nova Scotia Maps" and location of new lands and proposed industry wells). Company President Greg Noval said that the two licenses named the "Mayflower" and "Mariner" Prospects were posted for sale and acquired by Canadian Superior based on detailed geological and seismic work conducted by Canadian Superior on the prospects. The Company's "Mayflower Prospect" (Block #1 at the November 1, 2001 Land Sale) is located approximately 285 miles straight east of Boston, Massachusetts in close proximity to vibrant New England and northeast United States energy markets. The "Mayflower Prospect" targeting three large deep-water turbidite structures identified on the property, was acquired for a Work Expenditure Bid of Cdn. $41,250,000. Noval said that this prospect offers world-class exploration potential given that the large structures identified on the "Mayflower Prospect" are analogous to those currently being successfully drilled in the deep-water offshore in the Gulf of Mexico, Angola and Brazil, where similar structures may yield reserves ranging up to 500 million barrels of oil or 5 TCF of natural gas. In addition to the successful acquisition of the "Mayflower Prospect," Canadian Superior's "Mariner Prospect" (Block #4 at the November 1, 2001 Land Sale) was acquired directly offsetting five significant discoveries at Sable Island including the 1.6 TCF Venture natural gas field located, 180 miles southeast of Halifax, Nova Scotia. The "Mariner Prospect" was successfully acquired for a Work Expenditure Bid of Cdn. $15,510,000 based on proprietary seismic shot by Canadian Superior prior to the Land Sale. The seismic has identified a large Cretaceous structure on the prospect, which is located in shallow water in close proximity to existing Sable Island producing infrastructure. Similar structures in the immediate area are currently producing approximately 500 mmcf/d of natural gas into newly established Nova Scotia and New England markets through the recently constructed Maritimes & Northeast Ltd. pipeline.

People & Company News

Kongsberg Performs Well in Q2

Norwegian defence and marine technology company Kongsberg Gruppen's second quarter 2016 (Q2) financial results shows sales performance broadly in line with recent trends,

Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies

MN100: Conrad Shipyard

The Company: Conrad Shipyard was established in 1948 and is headquartered in Morgan City, Louisiana. The company designs, builds and overhauls tugboats, ferries,

Offshore

Onshore Spending on the Cusp of Recovery?

DW’s recently released quarterly World Oilfield Services Market Forecast (OFS) and World Oilfield Equipment Market Forecast (OFE) continue to suggest 2016 will

US Offshore Lease Sale Yields $18 Mln in High Bids

Today’s U.S. oil and gas Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area, announced

Canada May Ask Far-offshore Drillers to Pay Extra

Canada may ask oil companies to contribute to the hundreds of millions of dollars or more the country has to pay to an international body if they drill far offshore,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Port Authority Salvage Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0909 sec (11 req/sec)