Law360, New York (November 22, 2010, 4:23 PM ET) -- Marathon Oil Co. and bankrupt Pacific Energy Resources Ltd. have pitched a $2.9 million settlement over the decommissioning of an Alaska offshore platform, which is expected to cost at least $21 million, and a related fuel gas contract.
Marathon, which had four claims related to the dispute, would be able to recover under two allowed unsecured claims, according to a joint motion filed Friday in the U.S. Bankruptcy Court for the District of Delaware.
Marathon's claims relate to its assertion that Pacific Energy subsidiary Pacific Energy...
Marathon, Pacific Energy Pitch Ch. 11 Platform Deal
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