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Eastern Canada's White Rose crude output falls to lowest mark since 2012: agency

Production at Eastern Canada's White Rose field fell to its lowest monthly level since May 2012, according to data released by the Canada-Newfoundland and Labrador Offshore Petroleum Board.

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The White Rose field produced 10,148 b/d in July, down from 36,111 b/d in June, and the lowest reported production since May 2012, when production was just over 2,000 b/d.

Husky Energy operates the White Rose field with a 72.5% stake, while Suncor holds the remaining 27.5%.

Husky said the drop in output was due to the SeaRose floating production, storage, and offloading vessel's annual maintenance turnaround, which took place across about 20 days in July. Production resumed in late July, the company said.

Article Continues below...

Production at the Terra Nova and Hibernia fields increased both month on month and year on year, the data show.

Hibernia production in July rose 10% or 10,668 b/d month on month to 114,087 b/d. On a year-on-year basis, July production rose 16%. June production had fallen 28.4% month on month and 7% year on year, to the lowest level since October 2015.

The Hibernia project is co-owned by ExxonMobil (33.125%), Chevron (26.875%), Suncor (20%), Canada Hibernia Holding (8.5%), Murphy Oil (6.5%) and Statoil (5%).

Production at the Terra Nova field in July rose to 30,544 b/d from 28,402 b/d a year earlier. In June, the field had experienced its lowest production level -- 2,142 b/d -- on record due to scheduled maintenance. Suncor has a 37.657% stake in the Terra Nova field, which produces crude through a combination of producing wells and water and gas injection facilities. The other partners in the field are ExxonMobil (19%), Statoil (15%), Husky (13%), Murphy Oil (10.475%), Mosbacher Operating (3.85%) and Chevron (1%).

Cumulative Eastern Canadian crude production rose 7% month on month, averaging 156,045 b/d in July, the latest month for which data is available. Output averaged 146,377 b/d in June and 157,337 b/d in July 2015. Those figures include production from the White Rose, Hibernia and Terra Nova fields as well as the North Amethyst field, the price of which is not assessed by S&P Global Platts.

--Samer Mosis, samer. mosis@spglobal.com
--Edited by Keiron Greenhalgh, keiron.greenhalgh@spglobal.com