Newfoundland's Grand Banks presents untested oil and gas potential in eastern North America

02/14/2005
CANADA'S OFFSHORE—2With production levels at approximately 350,000 b/d of oil from two producing fields and a third field approaching first oil, the Canadian Province of Newfoundland and Labrador is emerging as a significant player on the international oil and gas stage.The primary exploration focus for the past 25 years has been in the shallow waters and proven reservoirs of the Jeanne d'Arc basin (Figs. 1-4). However, recent land sales and the locations of speculative seismic programs demonstrate that the industry is ready to expand its efforts into vast untested areas. These include the essentially unexplored plays along the Grand Banks and Labrador continental slope and ...
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