[Shell Oil’s Polar Pioneer Arctic Drilling Rig – West Seattle, Seattle, Washington by Chas Redmond from Seattle WA, USA (IMG_2552) [CC BY 2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons]

Royal Dutch Shell is suspending its exploration of the Chukchi Sea, Fuel Fix reports.

Shell did not find enough oil and natural gas in reserves beneath the Arctic waters north of Alaska to continue exploration. The company had hoped that the Arctic would be the next big shale reservoir.

Shell spent seven years and $7 billion on the Arctic exploration.

Via: Fuel Fix > Shell’s Arctic oil well comes up dry

More about Arctic drilling:

• Shell begins exploratory drilling in Arctic Aug. 6, 2015
• Could Arctic Ocean drilling benefit Ohio? June 3, 2015
• Hilcorp sizes up Arctic drilling opportunity Jan. 12, 2015