Newfoundland and Labrador to get word this evening on Atlantic Accord

Newfoundland and Labrador’s premier will update his province tonight on negotiations to revise the Atlantic Accord, a crucial federal-provincial agreement on offshore resource revenues.

Premier Dwight Ball and federal cabinet minister Seamus O’Regan are holding a joint media event in St. John’s, N.L., at 6 p.m. local time.

READ MORE: Rosy predictions for the economies of Atlantic Canadian provinces

The review was to assess the extent to which Newfoundland and Labrador has reaped majority benefit from its offshore resources.

Ball has called the Atlantic Accord a top priority for his government, and a focus of discussions with Ottawa this winter.

The governments faced a deadline dictating the 2005 document had to be reviewed by April 2019.

WATCH: Judge blocks Trump’s attempt to open up Arctic, Atlantic areas to oil and gas leasing

Ball has said he will call a provincial election before summer.