Double Crown Resources Inc. (fka DDCC)

[ProfitScout]

Oil Market Update: $2.1 Billion Noble Deal Could Start A Trend In Shale Sector

Link:
http://finance.yahoo.com/news/oil-market-2-1-billion-171039090.html

May 12, 2015

The U.S. government conditionally approved Royal Dutch Shell’s (NYSE: RDS.A) Arctic drilling plan, a major victory for the Anglo-Dutch company. Although Shell still needs to receive a few more permits, the approval from the Interior Department over its drilling plan was the biggest outstanding hurdle. Shell has plans to drill several wells in the Chukchi Sea, returning to the region after three years since its last drilling campaign. Shell has said the plan includes spending $1 billion on the Arctic this year, adding to the $6 billion tab it has already accumulated. This return to the Arctic will also mark the first drilling that will take place since the federal government imposed specific regulations on drilling in the far north.