Nomura Securities Maintains a 'Buy' on Royal Dutch Shell (RDS-B); A Step Toward Arctic Exploration

June 27, 2012 8:49 AM EDT
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Nomura Securities maintains a 'Buy' on Royal Dutch Shell (NYSE: RDS-B).

Analyst, Theepan Jothilingam, said, "US Interior Secretary Ken Salazar’s comments suggesting forthcoming approval for Arctic drilling, takes Shell a step closer to drilling offshore Alaska this summer. Having invested some USD4bn before a single well has been drilled and waited five years to start operations, we believe Shell is looking for a material, liquids discovery in the largely undrilled Arctic. Using BOEM resource estimates we think a prize of 2-3bn bbls is not unreasonable, which could be worth some USD10bn net to Shell."

For an analyst ratings summary and ratings history on Royal Dutch Shell click here. For more ratings news on Royal Dutch Shell click here.

Shares of Royal Dutch Shell closed at $67.73 yesterday.

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