The Chevron et al Hibernia P-15 well discovered hydrocarbons on the Hibernia structure in late 1979. Since that time, the operator Mobil Oil Canada, Ltd., and partners (Gulf Canada Resources, Inc., Petro-Canada Exploration Inc., Chevron Standard Limited, and Columbia Gas Development of Canada, Ltd.) have drilled four appraisal wells on the feature. Results from these wells indicate the presence of a major oil accumulation. Hibernia is located on the Newfoundland Grand Banks 315 km east-southeast of St. John's. Local stratigraphy and seismic structural data indicate potentially productive hydrocarbon zones.

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