"Shell Scales Back Arctic Drilling Plans"

"Shell is scaling back plans to drill up to five wells in Arctic waters this summer amid a series of setbacks, including stubborn sea ice still clinging to Alaska’s shores and delays in construction of an emergency oil spill containment barge."

"Royal Dutch Shell CEO Peter Voser told analysts Thursday that the company now anticipates completing just two exploration wells in the Chukchi and Beaufort seas.

In an apparent bid to take advantage of drilling rigs and support vessels already in the region, Voser said Shell is considering initial top-hole drilling in other parts of the area — allowed as long as the company does not penetrate hydrocarbon zones. Shell could then come back to those sites in future years to complete the wells."

Jennifer A. Dlouhy reports for fuelfix July 26, 2012.

Source: FuelFix, 07/27/2012