September 28, 2015 | By Jennifer A. Dlouhy
WASHINGTON — After spending $7 billion and seven years searching for oil under Arctic waters, Royal Dutch Shell on Monday said its quest had come up dry.
Shell announced that its exploratory oil well in the Chukchi Sea north of Alaska encountered “indications of oil and gas” that are “not sufficient to warrant further exploration” — a significant blow for the Anglo-Dutch firm that had hoped to find a multibillion barrel crude reservoir in those remote waters.
“Shell continues to see important exploration potential in the basin, and the area is likely to ultimately be of strategic importance to Alaska and the U.S.,” said Marvin Odum, director of Shell Upstream Americas. “However, this is a clearly disappointing exploration outcome for this part of the basin.”
By 
Paul Fuhs: 
Pickard is known as one of the oil industry’s toughest political operators with a history of doing whatever it takes to further Shell’s interests – and the Arctic is ‘just too big a prize’ to leave
Feds say Shell completed test for blow-out well response ahead of Arctic drilling
Press release from Greenpeace
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