CALGARY, AB--(Marketwired - December 07, 2015) - Husky Energy (HSE.TO) and its partner continue to advance appraisal work on the landmark Bay du Nord oil discovery offshore Newfoundland and Labrador.
Since late 2014, the West Hercules drill rig has undertaken an appraisal program related to the Bay du Nord discovery in the Flemish Pass Basin. Appraisal activities are progressing as expected and will continue into early 2016.
"The Bay du Nord appraisal program has been progressing well and further drilling is planned for 2016," said CEO Asim Ghosh. "We expect the results of this appraisal to further increase our understanding of the scope of this significant opportunity."
Additional information updates are expected following the conclusion of the program. Husky holds a 35 percent working interest in the Bay du Nord, Mizzen and Harpoon discoveries in the Flemish Pass.
White Rose Activity Update
In the Jeanne d'Arc Basin, Husky continues to maintain stable, high-netback production and extend the life of the main White Rose field through a series of staged satellite extensions and development wells.
A two-year contract has been signed to secure the harsh-environment Henry Goodrich rig, starting from the mid-2016 timeframe. The rig will be used for ongoing development drilling at the South White Rose Extension and North Amethyst field, and near-field exploration.
Production from the White Rose field and extensions is tied back to the SeaRose FPSO (floating production, storage and offloading) vessel.
Husky is the operator of the White Rose field and satellite extensions, holding a 72.5 percent working interest in the main field and a 68.875 percent interest in the satellite fields, which include North Amethyst, South White Rose and West White Rose.
Husky Energy is one of Canada's largest integrated energy companies. It is headquartered in Calgary, Alberta, Canada and its common shares are publicly traded on the Toronto Stock Exchange under the symbol HSE. More information is available at www.huskyenergy.com
FORWARD-LOOKING STATEMENTS
Certain statements in this news release are forward-looking statements and information (collectively "forward-looking statements"), within the meaning of the applicable Canadian securities legislation, Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended. The forward-looking statements contained in this news release are forward-looking and not historical facts.
Some of the forward-looking statements may be identified by statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "will continue", "is anticipated", "is targeting", "estimated", "intend", "plan", "projection", "could", "aim", "vision", "goals", "objective", "target", "schedules" and "outlook"). In particular, forward-looking statements in this news release include, but are not limited to: the Company's plans to continue appraisal drilling, and expected timing of such drilling, for the Bay du Nord oil discovery offshore Newfoundland and Labrador; and continued development drilling plans, and expected timing of such drilling, at the South White Rose Extension, North Amethyst field and other near-field exploration.