Husky Energy, Norsk Hydro Canada Announce Oil Discovery
Husky Energy Inc. Norsk Hydro Canada Oil & Gas say they have found new energy deposits near the Terra Nova oilfield off the East Coast. Calgary-based Husky and Norwegian-owned Norsk Hydro said late Tuesday that offshore drilling in the Jeanne d'Arc Basin off the coast of Newfoundland and Labrador had found hydrocarbons near Terra Nova, Canada's second major offshore field after Hibernia. The companies said the West Bonne Bay F-12 well is about 320 kilometres southeast of St. John's. Under a farm-in agreement with Norsk Hydro, Husky drilled the well to a depth of 4,666 metres and also drilled a sidetrack well to determine the size of the oil reservoir. Both wells showed energy deposits in the Upper Hibernia formation, the companies said.
Husky to Explore for New Reserves
Husky Energy Inc. is set to launch a major new exploration effort offshore of Newfoundland, with the aim of finding oil reserves separate from its existing projects, according to a report on www.theglobeandmail.com. The company, with partner and operator Norsk Hydro ASA, are planning to begin drilling by the end of the month in the West Bonne Bay region of the Jeanne D'Arc Basin, just to the northeast of the Terra Nova project. Details are still being finalized, but the two partners have a rig contracted -- and plan to explore for 60 days. That exploration will begin as soon as Husky wraps up drilling near its White Rose project, an effort the company said yesterday will add up to 90 million barrels -- two years of production -- to that project. (Source: www.theglobeandmail.com)
