After a tumultuous year, offshore Newfoundland and Labrador emerge the rout with a successful lease sale, anticipated exploration programs and continued development drilling. Just over 15,000 square kilometres of Atlantic acreage was awarded in the 2016 offshore Newfoundland and Labrador lease sale. Statoil and Husky concluded it's nearly two-year exploration program in the Flemish Pass, following-up by announcing another ten year program expected to begin in 2018. Drilling activity and rig contracts at on-stream developments signal another strong year for production. Offshore Nova Scotia had a more discouraging year. The lease sale concluded with no successful bids, and the much anticipated Shelburne Exploration Program in the Scotian Shelf suffered cost overruns, technical difficulties and the first of two wells reported non-commercial.
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Insight | Feb 2017
Atlantic Canada year in review: east coast rally?
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