The Obama administration is quadrupling its estimate of how much crude could be harvested from Arctic drilling leases it sold oil companies six years ago. Regulators also think there is a 75 percent chance of at least one large spill occurring in the area. More »
Shell, which has spent eight years and $6 billion to explore the Arctic’s Beaufort and Chukchi seas, said in letter to the Interior Department that “prudent” exploration before leases expire is now “severely challenged.” More »
The Obama administration is moving ahead with plans to sell offshore drilling rights in the central Gulf of Mexico.
Oil companies hoping to find crude under Arctic waters north of Alaska are imploring the Obama administration to ensure new rules governing drilling in the region don’t force them to stash emergency equipment nearby nor block them from using chemical dispersants to clean up any spills. More »
North Carolina, South Carolina and Virginia could rake in billions if the Interior Department opens up auctions on leases along the Atlantic Coast, according to the study. More »
More details came to light Tuesday on Shell’s plans for exploratory oil drilling in the Chukchi Sea north of Alaska, as federal regulators released a copy of the company’s broad Arctic drilling blueprint.
Shell’s campaign to resume Arctic drilling in 2015 took a major step forward Thursday, as the company gave federal regulators a broad drilling blueprint that lays out plans for boring new exploratory oil wells in the Chukchi Sea. It is the strongest evidence yet that the company will keep pursuing a big discovery in the U.S. Arctic, after a mishap-plagued 2012 exploration campaign ended with the grounding of a drilling rig and a $200 million writeoff. More »
Oil and gas companies are set to pay the government $110 million in high bids for leases in the western Gulf of Mexico, after an auction Wednesday that underscored the industry’s interest in deep-water territory. More »
Federal officials on Wednesday will open sealed bids from 14 companies vying for new oil and gas leases in the western Gulf of Mexico. More »
With oil companies boring wells and building offshore facilities in ever-deeper waters, federal regulators on Friday moved to update decades-old requirements to ensure they have enough money to dismantle the equipment once crude stops flowing. More »
Oil development in Atlantic waters from Africa to Canada should encourage the Obama administration to sell drilling leases in waters hugging the East Coast, a leading industry trade group said Wednesday. More »
The future of oil exploration in some U.S. Arctic waters may rest with federal courts, but Royal Dutch Shell’s CEO said Thursday the company is undaunted by the legal logjam. More »