I had the pleasure of visiting the Hibernia gravity-based structure while it was still under construction in Bull Arm, Newfoundland (photo). This pioneering facility, where Newfoundland’s offshore production began in Nov. 1997, continues to impress.
In April, Hibernia posted its highest monthly production since August 2021 – 3.1 million barrels or 103,000 bopd. Exxon attributes the production growth to a recent 6-well drilling program. The Hibernia field has produced more than double the original resource estimate of 520 million barrels.
Offshore Newfoundland’s total April production, increased to 9.4 million barrels, with a sharp increase in the value of production (see figure below). This is the highest monthly production level for the province since March 2020, and the second highest monthly production value on record, only behind July 2008.
Meanwhile, production at Hebron, another Exxon GBS structure, has reached record levels this year (chart below). The facility is producing more than 5 million bbls/month.
Finally, Suncor’s decision to refurbish the Terra Nova FPSO and resume production may be paying off given production levels of ~1 million bbls/month.
Bud's Offshore Energy (BOE) 
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