Pacific Energy Abandons Interest in Trading Bay Unit in Alaska

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.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
Technical Coordinator
Expertise: Client Representative|Process Management|Technical Writing
Location: Houston, TX
Contracts Advisor
Expertise: Budget / Cost Control|Contracts Engineer|Supply Chain Management
Location: San Ramon, CA
Executive Assistant
Expertise: Executive|Secretarial or Administrative
Location: United States
search for more jobs

Brent Crude Oil : $52.67/BBL 1.91%
Light Crude Oil : $51.6/BBL 2.60%
Natural Gas : $3.17/MMBtu 2.76%
Updated in last 24 hours