offshore, oil, gas, Newfoundland and Labrador, royalty regimes, Hibernia, Canada, petroleum, transportation cost eligibility, dispute settlement, legislative stability clauses
This paper traces the historical development of the offshore oil and gas royalty regime for Newfoundland and Labrador, from the first negotiated private royalty agreement for the Hibernia project, through the application of both generic and project-specific regulatory schemes applicable to later projects, up to the Hibernia Southern Expansion. The variations in key provisions across the six major projects are reviewed, with regard to royalty structures, transportation cost eligibility, cost and production allocation, dispute settlement and legislative stability clauses. Finally, the prospect for application of innovations and solutions developed to date to future projects is considered.
R J. Thrasher and Simon Baines, "Developments. in Newfoundland and Labrador Offshore Royalties: From Hibernia to Hebron and Back" (2014) 37:1 Dal LJ 33.