East Greenland Rift

Outline

Key Indicators

Rating

BBB±

Ranking

20

Outlook

Neutral

Commentary

Given the Basin's frontier status, it is unlikely that there is much motivation industry wide to explore the Basin. Consequently, this provides for significant opportunities for future investment.

Updated

April 12, 2021

Outline

Region

Americas - North

Position

Offshore

Hydrocarbon

Oil

Location

East Greenland Rift

Description

The East Greenland Basin was a rift basin in the late Palaeozoic–Mesozoic. Its basement is metamorphic rock formed by the Caledonian Orogeny in the Archean to Late Ordovician. In the Basin, Devonian–Paleogene strata were deposited on the basement. Lacustrine source rock formed in the late Palaeozoic and marine source rocks in the Late Jurassic. Shallow-marine sandstone reservoirs formed in the Middle Jurassic and deep-marine turbiditic sandstone reservoirs formed in the Cretaceous. The trap types are structure traps, horst and fault-block traps, salt structure traps, and stratigraphic traps. The East Greenland Basin possesses superior reservoir-forming conditions, favourable petroleum potential and preferable exploration prospects.

Summary

Only a handful of wells have been drilled in the Basin, with few encouraging results to date. However, the basin remains a frontier region and, by modern standards, highly prospective.

Source: ESRI, BGS, USGS & OGA data

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