By Yereth Rosen: 3 Jan 2015
Six years after dropping more than $2 billion on leases in the remote Chukchi Sea off northwestern Alaska, Shell has yet to drill into any oil in that icy frontier.
Plans for an audacious offshore Arctic exploration program have been stymied by litigation and adverse court rulings and a string of accidents, mishaps, mistakes and some legal violations.
But the company is seeking to make up for lost time in 2015. After scrapping plans to drill in 2014 — a decision made necessary by a federal appeals court ruling in January that found regulators had failed to properly evaluate environmental impacts of the 2008 leasing — Shell has a new and much more aggressive exploration plan it hopes to make a reality this year.