Tapped out? Shell ending Arctic offshore oil exploration after test well disappoints

Tapped out? Shell ending Arctic offshore oil exploration after test well disappoints

Sep 28th, 2015 

by John Donovan. 

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FoxNews.com: Sept 28, 2015

Royal Dutch Shell said early Monday that it was ceasing offshore oil and gas exploration in Arctic waters after a test well yielded unsatisfactory amounts of oil and gas.

The announcement was a huge blow to Shell, which was counting on offshore drilling in Alaska to help it drive future revenue and had poured billions in investment and years of work into the exploratory well. Environmentalists, however, had tried repeatedly to block the project, and welcome the news.

A statement from the company’s headquarters in The Hague said Shell was ending exploration off Alaska “for the forseeable future” after what it called “a clearly disappointing exploration outcome.”

Shell said it had found indications of oil and gas in the well in the Chukchi Sea, about 80 miles off Alaska’s northwest coast. However, the petroleum was not in quantities sufficient to warrant additional exploration in that portion of the basin, the company added.

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Posted in: Alaska, Arctic, Associated Press, Beaufort Sea, Chukchi Sea, Climate Change,Environment, Greenpeace, Gulf of Alaska, Marvin Odum, Oil, Oil Spill, Pollution, Royal Dutch Shell Plc, Shell, United States.
Tagged: Alaska · Arctic Ocean · Beaufort Sea · Chukchi Sea · Environment · Gas · Oil ·Oil Prices · Royal Dutch Shell Plc · Shell

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Shell’s Arctic oil well comes up dry

Shell’s Arctic oil well comes up dry

Sep 28th, 2015 

by John Donovan. 

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September 28, 2015 | By Jennifer A. Dlouhy

WASHINGTON — After spending $7 billion and seven years searching for oil under Arctic waters, Royal Dutch Shell on Monday said its quest had come up dry.

Shell announced that its exploratory oil well in the Chukchi Sea north of Alaska encountered “indications of oil and gas” that are “not sufficient to warrant further exploration” — a significant blow for the Anglo-Dutch firm that had hoped to find a multibillion barrel crude reservoir in those remote waters.

“Shell continues to see important exploration potential in the basin, and the area is likely to ultimately be of strategic importance to Alaska and the U.S.,” said Marvin Odum, director of Shell Upstream Americas. “However, this is a clearly disappointing exploration outcome for this part of the basin.”

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Posted in: Alaska, Arctic, Beaufort Sea, Chukchi Sea, Environment, Greenpeace, Gulf of Alaska, Gulf of Mexico, Houston Chronicle, Marvin Odum, Oil Spill, Pollution, Royal Dutch Shell Plc, United States.
Tagged: Alaska · Arctic Ocean · Beaufort Sea · Chukchi Sea · Environment · Gas · Gulf of Mexico · Oil · Royal Dutch Shell Plc

The TRUTH will set you FREE.

Shell abandons contentious Arctic exploration after poor results

Shell abandons contentious Arctic exploration after poor results

Sep 28th, 2015 

by John Donovan. 

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Christopher Adams, Energy Editor: Sept 28: 7.28am

Royal Dutch Shell has abandoned a contentious Arctic drilling campaign off the coast of Alaska and is preparing to take billions of dollars in writedowns after its exploration efforts failed to make a significant discovery.

However, the company said in a statement on Monday that while it had found “indications” of oil and gas, “these are not sufficient to warrant further exploration” in the area.

“Shell will now cease further exploration activity in offshore Alaska for the foreseeable future. This decision reflects both the Burger J well result, the high costs associated with the project, and the challenging and unpredictable federal regulatory environment in offshore Alaska,” it said.

FULL FT ARTICLE

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Posted in: Alaska, Arctic, Environment, Greenpeace, Oil Spill, Pollution, Royal Dutch Shell Plc, Shell, United States.
Tagged: Alaska · Arctic Ocean · Chukchi Sea · Royal Dutch Shell Plc · Shell

The TRUTH will set you FREE.

Shell ceases Alaska Arctic drilling after exploratory well disappoints

Shell ceases Alaska Arctic drilling after exploratory well disappoints

Sep 28th, 2015 

by John Donovan. 

No comments yet

Associated Press: Monday 28 September 2015 07.04 BST

Royal Dutch Shell PLC has said it is ceasing exploration in offshore Alaska for the foreseeable future, saying an exploratory well drilled to 6,800ft (2,100m) found oil and gas but not in sufficient quantities.

Shell USA’s president, Marvin Odum, said in an announcement early on Monday in the Netherlands that it was a disappointing outcome for that part of the Chukchi sea basin.

Shell drilled in 150ft (45m) of water about 80 miles (130km) off Alaska’s north-west coast. The exploratory well was the first in the Chukchi in 24 years.

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Posted in: Alaska, Arctic, Associated Press, Chukchi Sea, Climate Change, Environment,Greenpeace, Marvin Odum, Oil, Royal Dutch Shell Plc, Shell.
Tagged: Alaska · Arctic Ocean · Oil · Royal Dutch Shell Plc · Shell

The TRUTH will set you FREE.

SHELL QUITS THE ARCTIC

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Shell has announced its Arctic gambit has failed, and the company is ceasing oil exploration off Alaska’s Arctic coast for the foreseeable future.

There’s a key phrase in the statement Shell released late last night. In its rationale for abandoning their Arctic plans, they company cites “the challenging and unpredictable federal regulatory environment in offshore Alaska.”

Those challenges are because of you. They’re because of the kayaktivists in Seattle and Portland. They’re because of the people sending in comments from around the country. And they’re because we all stood up together and said, simply, #ShellNo.

In other words: We have just won a huge battle in the ongoing struggle to save our climate. Congratulations! And thank you – truly.

We know, and you know, that there is much more work to be done. With your support, we can build from today’s victory into even more wins to stop funding fossils and keep the oil in the ground.

The TRUTH will set you FREE.

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