KUCB: Shell Seeks 5-Year Extension on Arctic Leases

Oct 29, 2014

The company is seeking a five-year suspension from the Bureau of Safety and Environmental Enforcement to keep its leases from expiring.

Shell Oil has spent the better part of a decade -- and more than $6 billion -- trying to explore prospects in the Alaskan Arctic. But they have little to show for it.

Now that the clock is ticking down on their oil leases in the Beaufort and Chukchi seas, Shell is asking regulators for more time.

KUCB's Lauren Rosenthal has more, here.