Conoco putting Chukchi drilling on hold

Wed Apr 10, 2013 11:58am EDT
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HOUSTON, April 10 (Reuters) - ConocoPhillips on Wednesday said it was putting its plans to drill in the Alaska Chukchi Sea in 2014 on hold due to U.S. regulatory uncertainty.

Conoco, based in Houston, said it would not be prudent to invest in the project at this time because of "evolving" federal regulations and permitting standards.