- 1943 - is the year Canada's first offshore well was drilled off Prince Edward Island
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. However, Prince Edward Island's hydrocarbon potential has yet to be fully assessed as to date only 20 exploratory wells and one re-entry well have been drilled on and around the province.
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. There have been no exploration wells drilled in PEI since 2003.