No Oil Industry Buyers in Sale of Land Off Newfoundland

There were no takers by the oil and gas industry this time around for a land sale offshore Newfoundland.

The C-NLOPB offered 28 parcels of land in the eastern Newfoundland region totaling over 7 million hectares, and 19 parcels in the southeastern region totaling almost 5 million hectares.

The call for bids closed November 1.

Meanwhile, Cenovus Energy almost doubled oil production offshore Newfoundland in the third quarter of 2023 compared with the previous quarter—5,300 barrels per day to 8.900 bbl/d.

The company expects production to resume at the Terra Nova this quarter.

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