West Greenland

Outline

Key Indicators

Rating

BBB±

Ranking

21

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

June 11, 2021

Outline

Region

Americas - North

Position

Offshore

Hydrocarbon

Gas

Location

West Greenland

Description

The tectonic evolution of the West Greenland Basin was complex and included number distinct phases, namely: (1) at least two phases of Cretaceous rifting and thermal subsidence between west Greenland and Canada; (2) counter clockwise rotation of Greenland driven largely by adjacent plate movements and the thermal effects of mantle plumes; (3) the development of the Ungava transform fault zone concomitant with the opening of Baffin Bay basin and the Labrador Sea; and (4) compression in the northern part of the province (Eurekan Orogeny) as Greenland rotated and collided with Canada in the Paleogene.

Summary

Only a handful of wells have been sunk in to the Basin, with few encouraging results to date.

Source: ESRI, BGS, USGS & OGA data

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