Canada (East Coast) Scotian Shelf exploration basin

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. Most recently, a highly-anticipated campaign by Majors BP and Shell in 2016-2018 met with disappointment. We have concluded there will be no further exploration in the basin for the foreseeable future. While geologic risk is high, there is the potential for very large discoveries and we provide prospect economics for five different potential discovery sizes.