Pacific Energy Resources announced that a final court order has been issued authorizing the abandonment of the Company's interest in the Trading Bay Unit and the Trading Bay Field, Alaska (referred to as the Group 2 assets) and the rejection of executory contracts related to these assets.
This order was approved as a result of the winning bidder's inability to complete its financing necessary to purchase the assets, leaving the Company with no alternative. As a result of this abandonment, Pacific Energy Resources Ltd. and its subsidiaries no longer have any ownership interest in these properties.
Most Popular Articles
From the Career Center
Jobs that may interest you