Newfoundland and Labrador New Call for Bids

PGS has a grid of broadband GeoStreamer® MC2D seismic over the NL 15-01EN parcels. The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) recently announced details of the first call for bids in the Eastern Newfoundland Region under the Scheduled Land Tenure Regime introduced in 2013.

Newfoundland and Labrador New Call for BidsPGS has a grid of broadband GeoStreamer® MC2D seismic over the NL 15-01EN parcels.PGS has a grid of broadband GeoStreamer® MC2D seismic over the NL 15-01EN parcels.

The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) recently announced details of the first call for bids in the Eastern Newfoundland Region under the Scheduled Land Tenure Regime introduced in 2013.

Call for Bids NL 15-01EN consists of 11 parcels, totaling over 25 800 square kilometers of highly prospective acreage in the Flemish Pass Basin adjacent to the Mizzen, Harpoon and most recently Bay du Nord discoveries. Sealed bids on these parcels are due by November 12, 2015 and license award will be decided based on the total amount of money the bidder commits to spend on exploration of the parcel during Period I (the first period of a nine-year license). The minimum bid for any of the parcels offered is CAD 10 000 000 in work commitments.

"PGS, in cooperation with TGS, have for the last 3 years been acquiring broadband GeoStreamer MC2D seismic over the Flemish Pass Basin and Orphan Basin," said Jerry Witney, North America Vice President, PGS. "Of particular interest is the 5 x 5 km grid acquired over the NL 15-01EN parcels. This focused grid provides better imaging and understanding of a variety of trapping mechanisms and initial interpretation has already identified a number of AVO supported leads," confirms Witney.

For further information regarding the available Newfoundland and Labrador MC2D seismic data please contact Canada@pgs.com.