Royal Dutch Shell said that it will relinquish all but one of its U.S. offshore leases in the Chukchi Sea off Alaska's northwest coast. Shell spokesperson Curtis Smith said in an email that the move is consistent with the company's decision in September to halt exploration off Alaska's shore for the foreseeable future. Smith said that separate evaluations are underway for federal offshore leases in the Beaufort Sea, off Alaska's north shore. Shell spent $2.1 billion on 275 Chukchi Sea leases in 2008 and $7 billion overall on Arctic offshore development. It was the only company actively drilling in the Chukchi.
