UPDATE: More exploration needed, Dunderdale tells Noia

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Conference will include updates from Husky Energy, Statoil, Nalcor, Suncor

...Continued from previous page

Dunderdale also said the province is working with the federal government on changing the way they do licensing and land sales for development in the offshore.  

She said as the government searches for new fields, she's confident that there's still room for growth in the oil and gas industry.

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(Earlier story)

By Ashley Fitzpatrick

The Telegram

A speech from the premier and an operational update from Husky Energy will launch the Newfoundland and Labrador Oil and Gas Industries Association (Noia) conference today in St. John’s.

With the provincial government pressing for an overhaul of the offshore licencing system, fresh changes to occupational health and safety language in the Accord Acts, funding of an aggressive early (pre-drilling) exploration program through Nalcor Energy and oil revenues remaining key to the province’s financial wellbeing, there is no shortage of topics for premier Kathy Dunderdale to tackle when she takes to the podium.

Her speech is scheduled to start at 8:30 a.m.

Husky Energy, meanwhile, has its roughly $1.2-billion White Rose South extension project recently green-lit by the Canada-Newfoundland and Labrador Offshore Petroleum Board (CNLOPB). The company also has another White Rose extension it has yet to announce a go-or-no decision on. That extension could see a wellhead platform construction megaproject in Argentia or, as an alternative, large investments in subsea work with pre-fabricated structures. In addition, Husky has exploration interests off Newfoundland, Labrador and Greenland.

Presentations from Statoil and Nalcor Energy representatives will follow on the heels of Husky.

Business mind Amanda Lang, best known for CBC’s The Lang and O’Leary Exchange, is scheduled for a noon-hour presentation to conference-goers.

The afternoon schedule includes an update on Suncor’s operations off Newfoundland, a presentation on moving oil from Western Canada to the East Coast and a pair of presentations tieing in to the discussion of fracking regulations in Newfoundland and Labrador.

Black Spruce Exploration will be providing an update on its activities. The company has revealed itself as the single biggest player of the Western Newfoundland juniors, through new agreements with Enegi Oil and the acquisition of Deer Lake Oil and Gas — announced just last week.

Black Spruce is already teamed with Shoal Point Energy, through a farm-in agreement, to lead their suggested fracking project, beginning with a single well on the Port au Port Peninsula.

As of Monday evening, according to Minister of Natural Resources Tom Marshall, there have still been no plans for hydraulic fracturing of a well put forward by the company for environmental assessment.

More to come online and in tomorrow’s Telegram.

afitzpatrick@thetelegram.com

Organizations: Husky Energy, NOIA, Statoil Nalcor Energy Canada-Newfoundland and Labrador Offshore Petroleum Board Newfoundland and Labrador Oil and Gas Industries Association CBC Enegi Oil

Geographic location: Newfoundland, White Rose South, Western Canada East Coast

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Recent comments

  • James
    June 18, 2013 - 09:14

    My God (hope I didn't offend anyone), that is the first thing that has come out of her mouth that I actually agree 100% with.

  • Charlie
    June 18, 2013 - 09:13

    When this Premier appointed a beer distributor as Chair of the Board of Directors for Nalcor I realized we are dealing with a woman who is incompetent!! Who is the Premier taking to China with her? The media needs to get the truth on that!!

  • JJT
    June 18, 2013 - 08:40

    Translation: the province desperately needs more money because the PCs have already spent all present and future oil revenues.

  • Yes, girl
    June 18, 2013 - 08:29

    "We need new fields," she said "We need to be attractive." Look at our drug problem. We now have biker gangs. We can't walk the streets anymore. We can't leave anything at the cabin. We have to lock our cars and doors. We can't leave anything in our cars at the mall or downtown. We can't afford to buy a house. Yes girl, we need to be more attractive.

  • Jack
    June 18, 2013 - 08:18

    In addition to oil exploration along the Labrador Sea and Atlantic Ocean areas of Newfoundland, greater attention must be placed on the Gulf of St. Lawrence basin which has potential for vast oil fines. At the same time, the other issue are that exploration companies focusing on the Gulf of St. Lawrence area are grossly undervalued, particularly Canadian Imperial Venture and their subsidiary, Shoal Point Energy, and Foothills Capital Corporation (Black Spruce Exploration's parent company). In the case of Canadian Imperial Venture, while this company makes great discoveries, their company has difficulty increasing stock value. Even their recent 10 for 1 stock consolidation doesn't seem to work as their stock value keeps declining. The other root of the problem with Western Newfoundland oil exploration are not just under-recognition and investors punishing exploration companies like Canadian Imperial Venture for no legitimate reason, but public opposition to fracking/hydraulic fracturing. Maybe if investors start rewarding companies for great finds, especially Canadian Imperial Venture, more people will interested in investing in Newfoundland based oil companies, resulting in greater oil and gas exploration in Western Newfoundland.