After spending billions and waging legal battles for years, Royal Dutch Shell plc is abandoning all but one leasehold in Alaska’s Chukchi Sea and is evaluating its Beaufort Sea holdings, citing an “unpredictable” regulatory environment and poor initial drilling results. ConocoPhillips and two other operators also have dropped hundreds of leaseholds in the frigid waters.
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Shell Surrenders ‘All But One’ Lease in Alaska’s Chukchi, Evaluates Beaufort
After spending billions and waging legal battles for years, Royal Dutch Shell plc is abandoning all but one leasehold in Alaska’s Chukchi Sea and is evaluating its Beaufort Sea holdings, citing an “unpredictable” regulatory environment and poor initial drilling results. ConocoPhillips and two other operators also have dropped hundreds of leaseholds in the frigid waters.
May 11, 2016
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