White Rose

Articles from White Rose

Suncor to Write Down $425M for Stranded Oilfield Project Offshore Newfoundland

Failure to revive a mothballed production project prompted Calgary-based Suncor Energy Inc. to announce Tuesday a C$425 million ($319 million) write down on its 27.5% share of an oilfield offshore of Newfoundland. Suncor said majority owner Husky Energy Inc. stranded a 200 million bbl White Rose field addition by suspending construction when the Covid-19 virus…

January 6, 2021

E&P

Husky Energy’s Offshore Newfoundland Oil Play Questionable Due to Limited Federal Aid

Limited government aid for Canada’s offshore oil industry has left the 75,000 b/d West White Rose oil project on the Grand Banks of Newfoundland in mothballs, under review and liable to be canceled. Natural Resources Minister Seamus O’Regan only took a first step by committing C$320 million ($240 million) earned by the federal government’s 8.5%…

September 30, 2020