Pacific Energy Alaska Asset Exchange Gets Go-Ahead

Law360, New York (September 2, 2009, 1:57 PM EDT) -- Pacific Energy Resources Ltd. has won a bankruptcy court's approval to have a subsidiary to enter into an asset exchange agreement with Union Oil Company of California and Marathon Oil Co. related to offshore oil and gas production in Alaska.

Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware on Sept. 1 authorized Pacific Energy Alaska Operating LLC to begin a gas purchase and exchange agreement with Marathon Alaska Production LLC and an asset exchange agreement with Union Oil and Marathon....
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