Eastern Canadian crude differentials rose to their highest points since October on Tuesday, boosted by seasonal demand.
Platts on Tuesday assessed June cargoes of Hibernia, Terra Nova and White Rose 35 cents/b higher at Dated Brent plus 45 cents/b, plus 30 cents/b and plus $1.10/b, respectively. The grades rose a similar amount in the middle of April 2015 on the back of summer gasoline demand and seasonal maintenance.
The last time Hibernia was plus 45 cents/b was October 22, 2015 and the last time it was above that mark was on July 29 2015 when the grade was assessed at plus 50 cents/b.
The Hibernia project is co-owned by ExxonMobil (33.125%), Chevron (26.875%), Suncor (20%), Canada Hibernia Holding (8.5%), Murphy Oil (6.5%) and Statoil (5%).
Terra Nova's Tuesday assessment was its highest since October 23 2015, when it was assessed at plus 30 cents/b.
Suncor is the operator of Terra Nova with a 37.657% stake. The other partners in the field are ExxonMobil (19%), Statoil (15%), Husky (13%), Murphy Oil (10.475%), Mosbacher Operating (3.85%) and Chevron (1%).
White Rose also rose to its highest point since October 23, 2015, when it was assessed at plus $1.10/b.
Husky Energy operates the White Rose field with a 72.5% stake, while Suncor holds the remaining 27.5%.
