Eastern Canada NL11-01, NL11-02, NL11-03 Lease Sale results 2011

The Canada-Newfoundland Offshore Petroleum Board (CNLOPB) has announced the results of the Lease Sale that concluded on 15 November 2011. A total of eight parcels, covering an area of roughly 3.9 million acres were offered. They are divided into three seperate lease areas.

Sale Area NL11-01 is located in the Anticosti Basin of the Western Newfoundland and Labrador Offshore Region. The two parcels offered in this sale area, covering approximately 874,000 acres, received qualifying bids and were acquired by Ptarmigan Energy Inc.

Sale Area NL11-02 is located in the Flemish Pass/North Central Ridge Region of the Labrador-Newfoundland Shelf Basin. Both parcels offered in this sale received qualifying bids and were acquired jointly by Statoil Canada Ltd, Chevron Canada Limited and Repsol E & P Canada Ltd. The two parcels covered an area totalling just over one million acres.

Sale Area NL11-03 is in the offshore region off the extreme Northeast coast of Labrador in the Labrador-Newfoundland Shelf Basin. This sale area offered four parcels and received no bids.