Future Oil & Gas Production: A Forecast

Ian Atkinson, P. Geo.

Oil & Gas Development Partnership

Memorial University of Newfoundland

May 16, 2007

Warning!

The following presentation is for Mature Audiences Viewer discretion is advised

Sedimentary Basins of

Atlantic Canada

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Hibernia Terra Nova White Rose Oil Price

Hibernia

Terra Nova

White Rose

Locke 2007, C-NLOPB

Oil Production Forecast

Sedimentary Basins of

Atlantic Canada

The Jeanne d’Arc Basin

C-NLOPB and

the Dept. of Natural Resources

Significant Discoveries on the

Labrador Shelf

Canada-Newfoundland Offshore Petroleum Board

Canada-Newfoundland Offshore Petroleum Board

North Bjarni Field: 2.2 Tcf gas, 82 MMbbls NGL’s

Gudrid Field: 918 Bcf gas, 6.9 MMbbls NGL’s

Bjarni Field: 858 Bcf gas, 31.4 MMbbls NGL’s

Hopedale Field: 106 Bcf gas, 2.5 MMbbls NGL’s

Snorri Field: 106 Bcf gas, 2.5 MMbbls NGL’s

(P50 values, see DeSilva, 1999)

Sedimentary

Basins of

Atlantic Canada

The Dept of Natural Resources

The Department of Natural Resources

Onshore and Offshore Exploration Licences of

Newfoundland and Labrador

Sedimentary

Basins of

Atlantic Canada

The Dept. of Natural Resources

Western Newfoundland

Exploration Licences

The Department of Natural Resources

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1998

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2030

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of B

arre

ls

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Hibernia Terra Nova White Rose Oil Price

Hebron/Ben Nevis

Orphan Basin?

Western Newfoundland?

Laurentian Basin?

Labrador Gas?

Jeanne d’Arc Gas?White Rose

Terra Nova

Hibernia

White Rose +

Oil Production Forecast - Base Case

0

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97

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Pro

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(m

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bb

ls) Hebron

White RoseTerra NovaHibernia

Canada-Newfoundland Offshore Petroleum Board

Western Newfoundland?

Jeanne d’Arc Gas?

Labrador Gas?

Laurentian Basin

Orphan Basin

White Rose +

Hebron

White Rose

Terra Nova

Hibernia

Sedimentary

Basins of

Atlantic Canada

Thank You

The Oil & Gas Development Partnership