Husky has announced a recoverable reserves estimate of 70.7 million bbls of oil for its North Amethyst discovery located near its existing White Rose production facility, roughly 350 kilometres east of St. John's on the eastern edge of the Jeanne d'Arc Basin. Husky has indicated that it intends to use the same White Rose floating, production, storage and offloading (FPSO) vessel, the SeaRose, to develop the North Amethyst discovery and several other smaller, nearby fields, which it calls the White Rose extensions. With a projected cost of $1.35 billion, the expected production rate from North Amethyst could be between 62,900 and 75,500 bpd of oil. The North Amethyst discovery is co-owned by Husky (72.5%) and Petro-Canada (27.5%).
Husky and Petro-Canada have finalized a formal agreement with Newfoundland and Labrador Hydro to provide for the province's equity stake in the development of the White Rose expansion oil fields. While the current terms of the original White Rose development are unaffected, this formal agreement applies to lands around the original White Rose Development including the North Amethyst, West White Rose and South White Rose extensions. On top of its 5% equity stake in the development, Newfoundland and Labrador will also receive a super royalty of 6.5% on net revenues (after net payout) when the price of oil is over US$50 (West Texas Intermediate) in addition to a 30% generic royalty on production. Husky has estimated the White Rose satellite fields contain 214 million barrels of oil.