The province’s offshore regulator is reporting an increase in the estimated amount of oil that will come from the West White Rose field.
The Canada-Newfoundland and Labrador Offshore Petroleum Board, or C-NLOPB, says that after Cenovus announced their decision to move ahead with construction of the wellhead platform and the White Rose Extension project, staff completed a reassessment of what it’s expected to yield.
Oil estimates have increased to 436 million barrels compared to the original 2015 estimate of 404 million barrels. They say that increase is due to the extended life of the field.
Meanwhile, estimates for their natural gas liquid assessments have dropped.
The natural gas liquid assessment is down to 45 million barrels from the previous estimate of 82 million. That’s due to a decrease in gas volume.
The contingent natural gas liquid assessment has decreased to just under 1,500 billion standard cubic feet, from the original estimate of 2,700. They say that is due to a change in the methodology for the assessment.