The Scotian Shelf basin lies off the coast of eastern Canada and incorporates a shallow-water shelf and deepwater slope that extend from Nova Scotia waters into Newfoundland jurisdiction. Several gas and gas-condensate discoveries were made on the shelf from the 1970s to late 1990s. Exploration in the deepwater sector has been sporadic, and a 2002-2004 campaign in Nova Scotia, plus a 2010 well in Newfoundland, met with disappointment. A successful 2012 licensing round revived hopes for this under-explored basin, and in late-2015, Shell spudded the highly-anticipated Cheshire-1 exploration well, to be immediately followed by a second well. BP announced plans to drill its block in 2017. The Majors are hoping to make giant oil discoveries in this under-explored sector.
Canada (East Coast) Scotian Shelf.zip ZIP - 3.25 MB
Oil and gas exploration is an industry in constant motion, from technological breakthroughs to shifting supply and demand. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.
This Exploration Basin report provides a detailed analysis of exploration of this basin, including discovery and development costs, location maps and information about licensing and fiscal terms. You'll also find information about discovery and development costs and full-cycle returns.
Explorers and advisors can use this report to understand the history and potential value of this basin.
Wood Mackenzie has access to historic data for over 450 basins and forecasts for more than 125 basins. We provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies.
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