US supermajor ExxonMobil has put in two offers for parcels off Canada’s east coast, as regulators saw three uncontested bids for different areas in the region’s latest offshore oil and gas round.
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NOLPB) on Wednesday said the three tracts received a total of C$38.6 million (US$29.28 million) in bids out of 13 blocks made available.
ExxonMobil’s Canada subsidiary submitted a $10.14 million bid on Parcel 4 located in the south-eastern Newfoundland region, spanning about 239,921 hectares.
Regulators had offered nine blocks in the south-eastern Newfoundland region totaling 2,270,472 hectares.
In the Jeanne d’Arc region—home to major producing fields like Hebron, Hibernia, Terra Nova and White Rose—regulators offered four parcels totaling 464,977 hectares.
ExxonMobil also put in a $10.45 million bid for Parcel 2 spanning 111,317 hectares in the Jeanne d’Arc region. Another block in the same area, Parcel 3, received a $18.02 million bid from a partnership between Husky Energy and Suncor Energy. That block is 76,737 hectares.
Each parcel must have at minimum $10 million in work commitments, and winning bids must commit to spend on exploration of the block during the first six-year period of the nine-year licence. Bids are subject to approval by federal and provincial governments.