Bud's Offshore Energy (BOE)

While checking for updates on the important Orphan Basin well, I looked at Newfoundland production data and found it surprisingly encouraging:

• The pioneering Hibernia field has produced more than double the original resource estimate of 520 million barrels, and is still chugging along at about 60,000 bopd.
• Hebron, the current top producer, is holding strong at 100,000+ bopd.
• White Rose, which was in danger of being abandoned, is poised for a renaissance with the installation of the West White Rose concrete gravity structure.
• Terra Nova is once again producing at near 2019 levels after a four year hiatus. The Terra Nova story has many important technical, management, regulatory, safety, and logistical elements, and presents good case study opportunities for Newfoundland academics (Memorial University?).

With prospects for production at Bay du Nord brightening and interesting targets like the Orphan basin being explored, pessimistic forecasts for Newfoundland’s resilient offshore sector may be a bit premature.