Big Oil Abandons $2.5 Billion in U.S. Arctic Drilling RightsBy
Drillers forfeit millions of acres amid slump in oil prices
Royal Dutch Shell still holding on to one lease in Chukchi Sea
After plunking down more than $2.5 billion for drilling rights in U.S. Arctic waters, Royal Dutch Shell Plc, ConocoPhillips and other companies have quietly relinquished claims they once hoped would net the next big oil discovery.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Ivanka Trump Faces Courtroom Showdown Over $785 Sandals
- Uber Losing Battle in London After Regulator Revokes License
- Mercedes Plots Tesla Attack With $1 Billion U.S. Electric Push
- Trump Boosts North Korea Sanctions, Adding Economic Pressure
- How Electric Cars Can Create the Biggest Disruption Since the iPhone