Shell Halts Alaska Offshore Exploration After Failing to Find Enough Oil

  • Company quits Arctic search after dry well in Chukchi Sea
  • Shell hoped area would hold 10 times the resource of North Sea

Shell’s $7 Billion Alaska Oil Search Finds Dry Well

Royal Dutch Shell Plc will halt exploration in the U.S. Arctic after $7 billion of spending ended with a well off Alaska that failed to find any meaningful quantities of oil or natural gas.

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