What company began working on the Colony Shale Oil Project in 1980 and ended in 1982 because of a lack of funds?

What company began working on the Colony Shale Oil Project in 1980 and ended in 1982 because of a lack of funds?

• A. Chevron
• B. Exxon
• C. BP
• D. Shell

Answer: (B)

Exxon is the company tied to this timeline because oil shale ventures hinge on big upfront costs and favorable price economics. Exxon launched the Colony Shale Oil Project in 1980 in western Colorado as part of its shale development push, aiming to commercialize shale oil through mining and processing facilities. But the venture faced daunting capital needs and, by 1982, dwindling funds as oil prices had fallen and the economic outlook turned unfavorable. With limited financing available, Exxon halted the project due to lack of funds. This combination of starting in 1980 and ending in 1982 for funding reasons is why Exxon is the correct example here.

Exxon is the company tied to this timeline because oil shale ventures hinge on big upfront costs and favorable price economics. Exxon launched the Colony Shale Oil Project in 1980 in western Colorado as part of its shale development push, aiming to commercialize shale oil through mining and processing facilities. But the venture faced daunting capital needs and, by 1982, dwindling funds as oil prices had fallen and the economic outlook turned unfavorable. With limited financing available, Exxon halted the project due to lack of funds. This combination of starting in 1980 and ending in 1982 for funding reasons is why Exxon is the correct example here.