ConocoPhillips (COP +1%) puts on hold its plans to drill in the Alaska Chukchi Sea in 2014 due...

|About: ConocoPhillips (COP)|By:, SA News Editor

ConocoPhillips (COP +1%) puts on hold its plans to drill in the Alaska Chukchi Sea in 2014 due to U.S. regulatory uncertainty, determining "it would not be prudent at this time to make the significant monetary commitments needed to preserve the option to drill." Several months ago, Shell stopped drilling offshore Alaska after a series of operational mishaps.