Support: 888-992-3836
Copyright © 2023 InvestorsHub Inc.
Replies to post #10158 on The Rising Influence of Rising Affluence
OakesCS
05/12/15 11:18 PM
#10162 RE: oldberkeley #10158
DewDiligence
09/28/15 3:17 PM
#10801 RE: oldberkeley #10158
Shell has found indications of oil and gas in the Burger J well, but these are not sufficient to warrant further exploration in the Burger prospect. The well will be sealed and abandoned in accordance with U.S. regulations. … 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. The company expects to take financial charges as a result of this announcement. The balance sheet carrying value of Shell's Alaska position is approximately $3.0 billion, with approximately a further $1.1 billion of future contractual commitments. An update will be provided with the third quarter 2015 results.