Royal Dutch Shell Plc  .com Rotating Header Image

Chukchi Sea

Royal Dutch Shell’s Management Wants You to Know These 5 Key Things

Screen Shot 2015-12-09 at 09.32.15

Royal Dutch Shell’s Management Wants You to Know These 5 Key Things

Screen Shot 2015-11-20 at 08.55.47Last quarter was a pretty rough one for Royal Dutch Shell (NYSE:RDS-A) (NYSE:RDS-B). The company was forced to take more than $7.9 billion in charges to the income statement to write down some abandoned development projects, and its oil and gas production in the Americas continues to be a bit of a headache. 

Management was well aware of how these results looked, and so on its most recent conference call its executives acknowledged these weaknesses but also had some things to say that any investor in Shell should be aware of. Here are five quotes from the most recent conference call that provide some juicy tidbits into how to view this company over the long term. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Economics, not just regulation, sidelined Shell’s offshore Alaska drilling plans

Screen Shot 2015-12-08 at 11.06.35

Screen Shot 2015-12-09 at 09.19.52

Screen Shot 2015-11-03 at 08.42.45Dermot ColeDecember 8, 2015

Fresh assertions that the Obama administration smothered Shell’s Arctic dreams followed the news that Statoil gave up on its leases, the second company to abandon plans to look for oil in the Chukchi Sea.

Citing market conditions and noting the leases “are no longer considered competitive within Statoil’s global portfolio,” the Norwegian company announced its withdrawal plans Nov. 17. The company had long taken a cautious approach in the region, using Shell as a bellwether. Earlier this year it had scaled back its plans to drill in the Barents Sea because of low oil prices. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The Inside Story of Shell’s Arctic Assault

Screen Shot 2015-12-08 at 22.53.32

Screen Shot 2015-12-08 at 22.55.10

Screen Shot 2015-11-03 at 08.42.45A months-long investigation shows how the energy giant pressured the Interior Department during the company’s gung-ho Arctic push—and got most of what it wanted (except oil).

By Barry YeomanDecember 08, 2015

Last May, four months before the oil giant Royal Dutch Shell suspended exploration in offshore Alaska, Christopher Putnam needed to get something off his chest.

Putnam is 44, originally from Texas, a trained wildlife biologist who also served as an Army infantry sergeant during the Iraq War. For almost six years he has worked in Alaska for the U.S. Fish and Wildlife Service, protecting marine mammals. It has been his job to ensure that Shell’s plans to drill more than 60 miles offshore in the Chukchi Sea—the wild Arctic water between Alaska and Siberia—wouldn’t harm Pacific walruses, particularly the juveniles, calves, and nursing mothers that dominate the Chukchi during the drilling season. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Report: Political pressure prompted hasty environmental review of Shell’s Arctic play

Screen Shot 2015-12-08 at 11.06.35

Screen Shot 2015-12-08 at 11.03.26

Screen Shot 2015-11-20 at 08.55.47Yereth RosenBen AndersonDecember 7, 2015

Regulators hoping to avoid criticism and potential congressional backlash rushed an environmental review of offshore Arctic oil development to ensure that Royal Dutch Shell would be able to drill this year, said a report issued Monday by a federal watchdog agency.

The investigation, conducted by the U.S. Department of Interior’s Office of the Inspector General, was launched in response to complaints from Bureau of Ocean Energy Management employees who worked on a rewrite of the supplemental environmental impact statement for oil leasing in the remote Chukchi Sea off Alaska’s northwest coast. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell Forced to Scale Back Ambitions

Screen Shot 2015-11-27 at 07.37.56

Screen Shot 2015-11-27 at 07.39.29

Screen Shot 2015-11-20 at 08.55.47By James StaffordThu, 26 November 2015

As with most oil companies, 2015 has been a rough year for Royal Dutch Shell. The Anglo-Dutch company reported a third quarter loss of $6 billion, which included $7.9 billion in impairment charges.

During its third quarter earnings call, Shell’s CEO Ben van Beurden summed up the company’s strategy, emphasizing restraint. “Grow to simplify” is how he put it. What that means in practice is scrapping the Arctic campaign; pulling out of the expensive Carmon Creek oil sands project in Canada; shedding assets in the less desirable parts of North American shale; selling assets elsewhere around the world, including Nigeria; and focusing on its merger with BG, which is a big bet on LNG. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell’s top Arctic exec is retiring, will join KBR board

Screen Shot 2015-10-26 at 21.45.20

Screen Shot 2015-11-10 at 22.50.07

Screen Shot 2015-11-10 at 22.54.44

Posted on November 10, 2015 | By Joshua Cain

After Royal Dutch Shell scuttled its $7 billion Arctic drilling program in September, the company’s top executive on the project is moving on.

Ann Pickard, Shell’s executive vice president in the Arctic, will retire from the company in February 2016, Shell spokeswoman Kelly op de Weegh said Tuesday.

She will also join the board at Houston-based engineering and construction giant KBR Inc. in December, the company said on Tuesday.

Pickard was appointed to the Arctic after Shell’s program there foundered in 2012, when the rig the company contracted for the job, the Kulluk, crashed into an Alaskan island.

Shell ended its second attempt in the Arctic on Sept. 28 after the exploratory well it drilled in Alaskan waters of the Chukchi Sea failed to find significant amounts of oil and gas. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell’s boss fights to keep BG deal alive as he attempts to calm jittery investors

Screen Shot 2015-11-05 at 08.00.42

Screen Shot 2015-11-05 at 08.02.57

Screen Shot 2015-11-05 at 08.08.03

By LAURA CHESTERS FOR DAILY MAIL: 3 November 2015

Royal Dutch Shell chief executive Ben van Beurden is the oil industry’s equivalent of a swan – below his calm demeanour he is furiously paddling to keep his planned £40billion mega-deal afloat.

Shell is buying rival BG Group and, to get the deal away and for it to make sense as the oil price plummets, van Beurden has taken the knife to Shell’s costs and projects.

Investors have been getting jittery as the price of oil has halved since summer 2014 and has stubbornly remained below $60 a barrel since the takeover was announced in April. Brent Crude continues to fluctuate but experts predict the price will stay ‘lower for longer’ than may have been expected.

However, van Beurden, who took on the top job last January and has a lot riding personally on the deal, promises it will still work with an oil price in the mid-$60s a barrel. Yesterday he insisted: ‘Although oil prices have fallen in 2015, the valuation case for the BG acquisition still looks compelling today for both sets of shareholders.’ read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell describes Arctic drilling project as a good prospect that just didn’t work out

Screen Shot 2015-11-03 at 14.08.54

Screen Shot 2015-11-03 at 14.09.52

Screen Shot 2015-11-03 at 08.42.45Associated Press: Nov. 3, 2015

LONDON (AP) — Royal Dutch Shell CEO Ben van Beurden says the company will reflect on its decision to consider drilling off the coast of Alaska but voiced his regret that the prospect couldn’t be made to work out.

Van Beurden told reporters Tuesday as Shell updated its strategy that it would examine the decision to pursue offshore drilling in Arctic waters. Shell reported a third-quarter loss of $7.4 billion last week as it re-organized and cancelled projects, including drilling in Alaska amid sharp drops in the price of oil. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Shell leaves door open for future exploration in Alaska’s Arctic

Screen Shot 2015-11-03 at 08.38.23

Screen Shot 2015-11-03 at 08.47.01

Jennifer A. Dlouhy | Houston Chronicle: November 2, 2015

Screen Shot 2015-11-03 at 08.42.45WASHINGTON — Shell is walking away from oil exploration in Arctic waters north of Alaska, but it isn’t ready to close the door completely.

Disappointing results from a critical test well at the company’s Burger prospect in the Chukchi Sea, combined with the high costs of developing the region and an “unpredictable regulatory environment,” have prompted Royal Dutch Shell to cease Alaska offshore exploration “for the foreseeable future,” CEO Ben van Beurden told reporters Thursday. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Even as it walks away from Arctic drilling, Shell keeps door open for future work

Screen Shot 2015-10-26 at 21.45.20

Screen Shot 2015-10-29 at 08.33.48

Screen Shot 2015-10-05 at 14.03.31Posted on October 29, 2015 | By Jennifer A. Dlouhy

WASHINGTON — Shell is walking away from oil exploration in Arctic waters north of Alaska, but it isn’t ready to close the door completely.

Disappointing results from a critical test well at the company’s Burger prospect in the Chukchi Sea, combined with the high costs of developing the region and an “unpredictable regulatory environment” have prompted Royal Dutch Shell “to cease further exploration activity offshore Alaska for the foreseeable future,” CEO Ben van Beurden told reporters Thursday. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

US Follows Royal Dutch Shell plc Backs Away From Arctic Drilling

Screen Shot 2015-09-25 at 22.42.43

Screen Shot 2015-10-19 at 14.32.25

Screen Shot 2015-10-19 at 14.33.49

By: Micheal KaufmanOct 19, 2015

The US Interior Department announced on Friday that it will cancel the auction of 2016 and 2017 natural gas and offshore oil leases in the Arctic Ocean. The auction was scheduled under the Department’s current five-year Chukchi Sea leasing program for 2012–2017. The division cited low crude oil prices and lack of interest from oil companies as the main reason behind its decision.

This news comes a few weeks after Royal Dutch Shell plc (ADR) (NYSE:RDS.A) withdrew its Arctic drilling plan. The oil giant had spent $7 billion for the Arctic campaign. It said last month that it has dropped its exploration and production (E&P) activities in the Burger prospect of the Chukchi Sea, as it found few traces of oil and natural gas in the region. The company was not satisfied with the drilling results; it had initially expected huge amount of oil traces in the Ocean. Shell has dropped all future plans of Arctic drilling for the foreseeable future. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Interior: No more new Arctic oil leases for remainder of Obama’s presidency

Screen Shot 2015-10-18 at 09.27.31

Interior: No more new Arctic oil leases for remainder of Obama’s presidency

Screen Shot 2015-10-05 at 14.03.31Gregory Korte, USA TODAY: Oct 16, 2015

WASHINGTON — The Obama administration is canceling its plans to sell oil drilling rights in the Arctic Sea through 2017, a remarkable turnaround since expanding drilling by approving new drilling permits for Shell Oil earlier this year.

But Royal Dutch Shell’s decision last month to suspend its oil exploration in offshore Alaskan waters — citing disappointing results from a well in the Chukchi Sea — prompted the Interior Department to cancel further oil leases.

“In light of Shell’s announcement, the amount of acreage already under lease and current market conditions, it does not make sense to prepare for lease sales in the Arctic in the next year and a half,” said Secretary of the Interior Sally Jewell. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

U.S. Cancels Remaining Arctic Oil Lease Sales Under Obama

Screen Shot 2015-10-17 at 20.45.51

Screen Shot 2015-10-17 at 20.52.01

Brian Wingfield and Joe Carroll: BLOOMBERG.COM: 17 October 2015

The U.S. Interior Department effectively halted drilling off Alaska’s coast for the remainder of President Barack Obama’s term by canceling two sales of Arctic oil and gas leases.

The decision comes less than a month after Royal Dutch Shell Plc said it would indefinitely cease exploration in the region as the company didn’t find sufficient quantities of oil or gas in a Chukchi Sea drilling zone.

“In light of Shell’s announcement, the amount of acreage already under lease and current market conditions, it does not make sense to prepare for lease sales in the Arctic in the next year and a half,” Interior Secretary Sally Jewell said in a statement on Friday. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

US curbs Arctic offshore oil and gas drilling

Screen Shot 2015-09-17 at 08.01.25

Screen Shot 2015-10-17 at 09.44.42

Screen Shot 2015-10-17 at 09.47.59

The US government has announced new curbs on oil and gas exploration in Arctic waters off Alaska’s northern coast.

It comes after oil giant Royal Dutch Shell last month stopped its Arctic activity citing “disappointing” tests.

The US interior department said it was cancelling two potential Arctic offshore lease sales and would not extend current leases.

The announcement has been welcomed by environmentalists.

Miyoko Sakashita, of the Center for Biological Diversity, said the decision was “great for the Arctic and its polar bears”. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

U.S. cancels Arctic offshore lease sale after Shell drops interest

Screen Shot 2015-09-09 at 08.07.52

Screen Shot 2015-10-16 at 22.28.16

Screen Shot 2015-10-05 at 14.03.31WASHINGTON: Fri Oct 16, 2015

The U.S. Interior Department on Friday said it would cancel two potential Arctic offshore lease sales after Royal Dutch Shell PLC (RDSa.L) said that it was not interested in those leases.

“In light of Shell’s announcement, the amount of acreage already under lease and current market conditions, it does not make sense to prepare for lease sales in the Arctic in the next year and a half,” Interior Secretary Sally Jewell said in a statement.

Shell said last month it was giving up its Arctic search for oil after failing to find enough crude oil. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

The risks of wildcatting in the Arctic

Screen Shot 2015-10-16 at 09.01.01

Screen Shot 2015-10-16 at 09.01.44

Screen Shot 2015-10-05 at 14.03.31A former Shell Oil executive and catastrophic risk expert on the nightmare scenario when oil and ice mix.

by Lauren Ellis @lauren_jellis: October 15, 2015

Two drill vessels officially left Arctic waters after Royal Dutch Shell announced that the company would cease exploration in the Chuckchi and Beaufort seas. After a $7 billion investment and a standoff with kayaktivists, Shell cited a “disappointing exploration outcome,” meaning there’s oil in the Arctic, but not enough where they drilled to justify the cost. It’s a classic industry gamble called wildcatting: oil companies invest in an unexplored area hoping to strike black gold in the hidden reservoirs thousands of feet below the surface. read more

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each blog member is allowed limited comments, as displayed above the comment box.
  • Comments must be limited to the number of words displayed above the comment box.
  • Please limit one comment after any comment posted per post.