Exploration activities on Prince Edward Island have identified the existence of potential reservoirs, including a discovery made offshore near East Point.
Prince Edward Island’s Resources
Canada’s first offshore well was drilled off Prince Edward Island in 1943. Exploration activities on the island have identified potential reservoirs, including a discovery made offshore near East Point. Currently there are no producing fields but in recent years several companies have conducted seismic programs.
Prince Edward Island’s oil and natural gas industry is still in its infancy. However, in excess of one million acres of land are under active exploration for oil and natural resources. Although an exploratory natural gas well has not been drilled since 2003, there continues to be a high level of interest and activity to secure prospective drilling targets.