• Construction at Encana’s Deep Panuke natural gas project located offshore Nova Scotia continues. The first gas is expected to begin flowing late in the year, and the project is expected to produce 200 to 300 mmcf a day for at least a decade.  
  • The majority the construction contracts for the Hebron project, offshore Newfoundland‐ Labrador, are expected to be awarded this year at the completion of the front‐ end engineering and design (FEED). The FEED will narrow the project’s price tag, previously estimated at $4 ‐ $6 billion. Hebron production is expected to range from 120,000 to 175,000 bbl per day of oil. The project owners include ExxonMobil (36%), Chevron (26.7%), Suncor (22.7%) and Statoil (9.7%) as well as government‐owned Nalcor Energy (4.9%).  
  • Independent studies conducted on New Brunswick’s shale gas potential have estimated a potential 2.14 tcf of potential gas resource in the Hillsborough region of the Moncton sub‐basin. Contact Exploration, which has 5,500 acres under lease in the area announced in late 2010 that it had successfully drilled and completed two 100% working interest horizontal oil wells. Well results to date have “met or exceeded” expectations.