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.
Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Madsen to Chair Norway’s Research Council Executive Board

Henrik O. Madsen appointed chairman of the executive board of the Research Council of Norway   DNV GL president and CEO Henrik O. Madsen was appointed as chairman

Port of Houston Expecting Record Year

The Port of Houston Authority is expecting 2014 to close as a banner year for the port, with 34 million tons of cargo handled through November, Executive Director

Hapag-Lloyd Completes CSAV Merger Capital Increase

Hapag-Lloyd completed the planned capital increase of EUR 370 million (approximately $452.5 million) as part of the business combination with the Chilean shipping

Offshore

DNV GL Targets Safer Approach to Subsea Lifting

The completion of a joint industry project (JIP) to improve existing standards and regulations around subsea lifting operations has resulted in a new recommended practice (RP).

Polarcus Awarded 3D Project Off West Africa

Polarcus Limited has signed a letter of intent with Perenco Oil & Gas Gabon S.A. for a 3D marine seismic acquisition project offshore West Africa.   The project,

Boskalis, VolkerWessels Win Offshore Wind Farm Work

Royal Boskalis Westminster N.V., in partnership with Volker Stevin International (VolkerWessels), has been awarded a contract by Iberdrola Renewables Offshore Deutschland

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Salvage Ship Electronics Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1426 sec (7 req/sec)