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Newfoundland and Labrador Hydro to absorb Nalcor
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St John s businessman Dean MacDonald says he wants a piece of Terra Nova
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Winnipeg Free Press By: The Canadian Press
Last Modified: 7:51 PM CDT Wednesday, Jun. 16, 2021 Save to Read Later
CALGARY - The beleaguered Terra Nova oilfield off the coast of Newfoundland and Labrador could live to pump another day after its owners reached a restructuring agreement in the eleventh hour Wednesday.
Terra Nova FPSO, a massive floating production, storage and offloading vessel used in the oil and gas industry, heads along the Newfoundland coast near St. John s on Friday, Aug. 3, 2001. THE CANADIAN PRESS/Andrew Vaughan
CALGARY - The beleaguered Terra Nova oilfield off the coast of Newfoundland and Labrador could live to pump another day after its owners reached a restructuring agreement in the eleventh hour Wednesday.
N.L. s troubled Terra Nova offshore oilfield saved by last-minute restructuring
Terra Nova FPSO, a massive floating production, storage and offloading vessel used in the oil and gas industry, heads along the Newfoundland coast near St. John s on Friday, Aug. 3, 2001. THE CANADIAN PRESS/Andrew Vaughan June 16, 2021 - 5:51 PM
CALGARY - The beleaguered Terra Nova oilfield off the coast of Newfoundland and Labrador could live to pump another day after its owners reached a restructuring agreement in the eleventh hour Wednesday.
The oilfield s seven owners will shuffle their shares and provide short-term funding for the project, rather than abandon the field entirely, a news release from Suncor Energy Inc. said.
Suncor to increase minority stake in Terra Nova as part of ownership restructuring
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Terra Nova FPSO, a massive floating production, storage and offloading vessel used in the oil and gas industry, heads along the Newfoundland coast near St. John s on Friday, Aug. 3, 2001. THE CANADIAN PRESS/Andrew Vaughan
CALGARY – Suncor Energy Inc. says it has reached an agreement in principle to increase its minority ownership of the Terra Nova offshore oilfield.
The Calgary-based company says its stake in the Newfoundland and Labrador facility will increase to 48 per cent from about 38 per cent as part of a restructuring of ownership.
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