Newfoundland Expands Hibernia Oil Field
Oil is the talk of the province once again in Newfoundland. This morning news reports can be read throughout the internet outlining the tenative agreement expanding the Hibernia Oil field. Newfoundland Labrador will have a 10% stake (through crown owned Nalcor Energy) in the Hibernia South expansion. Great news as oil is currently hovering over $71 a barrel. Premier Williams made the accouncement this morning during the Newfoundland & Labrador Oil and Gas Industires Association (NOIA) conference in St. John’s.
What effect do you think this has for real estate in St. John’s?
Complete news articles can be found below
VOCM.com – Big Day for Oil Patch
Globeandmail.com – Newfoundland gives Hibernia New Life
Thetelegram.com -Hibernia South worth $10 billion to the province: Premier