Home | About | Donate

Shell’s Arctic Drilling Gamble Ends with a Loss


#1

Shell’s Arctic Drilling Gamble Ends with a Loss

WASHINGTON -

September 28 marks the end of the oil and gas drilling season in the Arctic Ocean, and an end to Shell’s exploration. Shell Oil, which broke ground on its first exploration well this year on July 30, today announced that it will cease its Arctic operations for the foreseeable future. In an official statement, Shell reported that indications of oil and gas were found, but were not “sufficient to warrant further exploration.” Under Shell’s federally-approved exploration plan, all rigs and support vessels must leave the Chukchi Sea by late October.

###