Skip to content
Back to Guavy Wire
Commodities

Norman Wells Oil Production Ceases After Over a Century

Instruments
Oil
Share

Imperial Oil announced on August 15 that it has ceased oil production at its Norman Wells site, marking the end of over a century of operations. The Norman Wells oilfield, discovered in 1920, had pumped an estimated 275 million barrels since its inception. According to John Hutchings, Imperial Oil's operations manager in Norman Wells, 'Production flow has been fully and safely shut in at our Norman Wells site, bringing to close over a century of operations.' The team is now focused on deactivating the site, which will continue over the coming weeks.

The closure of the oilfield will also affect natural gas production in the Northwest Territories. In 2025, the NWT's natural gas yield totalled 41 million cubic metres, a decrease of 18% from the previous year. The value of the territory's natural gas was $2.2 million in 2025.

Reclamation work on the site is not expected to begin until after 2030 and will take more than 20 years to complete. Opportunities for involvement will exist for local businesses, and employment will be offered during this time. The Town of Norman Wells has been studying the impacts of losing its largest industry and how to respond on a number of fronts.

More on Commodities

Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

© 2026 Guavy Inc