Near-record investment expected as ‘bow wave’ of activity heads for Newfoundland offshore

“Newfoundland and Labrador’s offshore oil industry is preparing for a serious uptick in exploration activity, with $4 billion in work commitments poised to attract near-record drilling in the next few years as companies search for the next Hibernia-type discovery.

But industry leaders caution that myriad factors will determine whether that target is achievable, or whether it is significantly surpassed.”