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To better gauge resource potential, ExxonMobil said the discovery is being evaluated with two sidetracks drilled. A well test is underway.
Advanced seismic data helped the company discover additional pay.
The move followed the federal government’s decision to remove the Mid-Atlantic and South Atlantic Planning Areas of the Atlantic Ocean from the 2017-2022 Outer Continental Shelf Oil and Gas Leasing Program.
The first 3-D seismic survey ever shot offshore Newfoundland and Labrador has delineated a new Lower Tertiary play.
Reduced exploration budgets have seriously harmed the sector.