Asset Report
Canada (East Coast) Scotian Shelf exploration basin
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Report summary
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.
Table of contents
- Key facts
-
Summary and key issues
- Key issues include:
- Location maps
- Participation
- Key companies
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Geology
- Play Inputs - Newfoundland Deepwater
- Play Inputs - Nova Scotia Deepwater
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Exploration
- Wells drilled
- Basin success rates
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Reserves and resources
- Volumes discovered
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Prospective resource potential
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Play Inputs
- Key Play Data
- Model field pool size distribution
- Existing discoveries and modelled prospective resource pool size distribution
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Play Inputs
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Development
- Prospective resource costs and underlying development assumptions
- Costs
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Fiscal and regulatory
- Licensing
- Fiscal terms
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Economic assumptions
- Oil and gas prices
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Economic analysis
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Outlook economics
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Development value
- Newfoundland Deepwater
- Nova Scotia Deepwater
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Prospect breakeven price
- Newfoundland Deepwater
- Nova Scotia Deepwater
- Expected monetary value (EMV)
- Play economics
- Full cycle basin economics
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Implied acreage value
- Average value of future discoveries and implied acreage value
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Development value
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Outlook economics
Tables and charts
This report includes 53 images and tables including:
- Play level data
- Assumptions
- Value creation versus investment (TYP period)
- Value creation versus investment (outlook)
- Exploration history map
- Exploration wells by play
- Licensed exploration acreage
- Expiry forecast of current licences
- Key licence holders
- Gross exploration wells completed by operator
- Net exploration wells completed by participant
- Exploration and appraisal spend
- Exploration spend per well and average well depth
- Commerciality index
- Key play characteristics - Newfoundland Deepwater
- Key play characteristics - Nova Scotia Deepwater
- Drilling activity by well type
- Cumulative exploration wells by play
- Basin Creaming Curve
- Key basin data
- Cumulative discoveries by play
- Cumulative volumes discovered by play
- Forecast data by play (outlook)
- Newfoundland Deepwater
- Nova Scotia Deepwater
- Fiscal and regulatory: Table 1
- Fiscal and regulatory: Table 2
- Brent and local oil price assumptions
- Henry Hub and local gas price assumptions
- Breakeven price versus prospect size
- Value creation versus investment
- Frontier methodology parameters
- Newfoundland Deepwater
- Nova Scotia Deepwater
- Newfoundland Deepwater
- Nova Scotia Deepwater
- Newfoundland Deepwater
- Nova Scotia Deepwater
- Newfoundland Deepwater
- Nova Scotia Deepwater
- Full-cycle economic analysis
- Newfoundland Deepwater
- Nova Scotia Deepwater
- Value of potential discoveries
- Unit value of potential discoveries
- Value of potential discoveries
- Unit value of potential discoveries
- Economic analysis: Image 7
- Economic analysis: Image 8
- Breakeven price of exploration
- Discount rate breakeven price sensitivities
- Economic analysis: Table 6
- Economic analysis: Table 7
What's included
This report contains:
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