Insight
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7 Pages

East Coast and Arctic Canada upstream: 2015 in review


East Coast and Arctic Canada upstream: 2015 in review

Report summary

Despite the harsh economic environment and massive cutbacks throughout the upstream sector in 2015, activity pressed on in Atlantic Canada. Construction continued at Hebron, as with Statoil and Husky's Flemish Pass appraisal programme. Indeed, the region's future looks even brighter following an active bidding round in Newfoundland which was preceded by the government's announcement of a new royalty framework. Exploration activities stretch further east as companies move to capitalise on the resource potential of the Flemish Pass Basin. After nearly a decade, exploration resumed offshore Nova Scotia as Shell launched its anticipated Shelburne Basin Exploration Project. Unlike the East Coast, the Arctic was a different story. Supermajors with acreage positions and previous exploration plans have halted activity. The production outlook in the region is bleak due to shut-ins and technical difficulties. Imperial Oil's Norman Wells is now the only producing field in Arctic Canada. 

What's included?

This report includes 2 file(s)

  • East Coast and Arctic Canada upstream: 2015 in review PDF - 1.43 MB 7 Pages, 0 Tables, 6 Figures
  • East coast and arctic canada a review of 2015.xls XLS - 386.00 KB

Description

This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in upstream commercial data and analysis.

  • Executive summary
  • Exploration
    • Atlantic Canada saw a surge in exploration drilling compared to 2014
  • Fiscal and leasing
    • New royalty framework for Newfoundland and Labrador
    • Land sale results
  • Production and Development
    • Production slowing offshore Nova Scotia
    • Developments at Jeanne d'Arc
    • Activity halts in Arctic Canada
  • Other developments
    • Materiality of UNCLOS Article 82
    • BG moves into Atlantic Canada
    • Fracking restrictions
    • Developments at Anticosti Island

In this report there are 6 tables or charts, including:

  • Executive summary
  • Exploration
    • Annual drilling activity
  • Fiscal and leasing
    • Map of 2015 Newfoundland and Labrador drilling activity and leasing by operator
    • 2015 East Coast bid results
    • Annual bid results
  • Production and Development
    • Nova Scotia and New Brunswick Gas production
    • Newfoundland oil production
  • Other developments
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