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Article: Interest fades in Atlantic waters as possible source of oil or gas. (East Coast)
- Article from:
- National Petroleum News
- Article date:
- January 1, 1985
- Author:
CopyrightCOPYRIGHT 1985 M2Media360. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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It might sound strange to characterize the Atlantic Ocean as nothing more than one big dry hole but that's the way it's going to be until someone gets real lucky with a drill bit off the East Coast--if ever.
Shell, the last of the oil companies that have been trying since 1978 to find some oil or gas in the Atlantic's continental shelf waters, gave up in early November. Its ninth consecutive dry hole was another multi-million-dollar disaster [NPN--Sept. '84, p22].
The industry has drilled a total of 40 holes in the Atlantic, from the midlands off the New Jersey coast to the fishing banks off New England. All but five were dusters. The other had some ...