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Shell spends $7 byn for dry hole in the artic.
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JonSCKs
Posted 9/29/2015 08:53 (#4814475)
Subject: Shell spends $7 byn for dry hole in the artic.


WOW!!!

and I thought I had bad luck... Shell "shelled" out $7 BILLION Clams (plus another 2.1 byn for the lease rights..) to go drill in the artic..

and the results?

"nada."

( http://abcnews.go.com/US/wireStory/alaska-braces-fallout-shell-arct... )

and.. ( http://fortune.com/2015/09/28/shell-alaska-oil-drilling/ )

Royal Dutch Shell said Monday it will stop drilling for oil off Alaska’s coast. The move comes after Shell failed to discover a noteworthy amount of undersea oil in a well off northern Alaska despite spending $7 billion on exploration efforts.

golly that's a bummer... 

ps want to buy a house in the Bakken?  ( http://www.bloomberg.com/news/articles/2015-09-29/man-camp-exodus-s...

Officials in Watford City about 45 miles away have issued 1,824 permits for apartments, duplexes and homes in the past 18 months after only three houses were built between 1980 and 2000. They are in limbo, worried about filling the units. 

“This lag time is driving me nuts,” said Brent Sanford, Watford City’s mayor, during a recent tour of construction sites with names such as Emerald Ridge Estates and Pheasant Ridge. “I’m now hearing words like, ‘This isn’t sustainable.”’ 



Edited by JonSCKs 9/29/2015 08:59
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