BP abandons high-impact Canada well amid signs of failure

BP is abandoning a high-profile wildcat offshore eastern Canada, amid signs that the probe was unsuccessful.

The Ephesus F-94 exploration well in the sparsely drilled Orphan basin was targeting a multibillion-barrel structure offshore Newfoundland & Labrador, and hopes were high that a big discovery would open up a new petroleum play to rival the province’s prolific Jeanne d’Arc and Flemish Pass basins.

BP was in the process of abandoning the well three days ago, according to the Canada-Newfoundland & Labrador Offshore Petroleum Board (CNLOPB), which regulates upstream activities in the area.