The provincial government is moving ahead to the next phase of its oil and gas asset review.

Specifically, this phase will focus on government’s equity stakes in Hebron (4.9 per cent), Hibernia South Extension (8.7 per cent), and the White Rose extension project (5 per cent), as well as asset and exploration teams and intellectual property within the Oil and Gas Corporation.

According to government, Rothschild will present the province’s portfolio of oil and gas assets to potential buyers.

They say this process will not bind government to any decisions, but will inform them on whether or not to move on to negotiations to sell those assets.

Government received the initial Rothschild report in April of 2022, about a year later government moved ahead with the review of oil and gas assets.

The province says no similar decisions have been made with respect to any other assets included in the initial review.