Pacific Energy, Alaska Reach Deal Over Oil Leases

Law360, New York (September 22, 2010, 5:20 PM EDT) -- Pacific Energy Resources Ltd. has asked a bankruptcy court to sign off on a stipulation in which it would allow more than $40 million in claims from Alaska in order to resolve a dispute over several oil and gas leases.

The exploration and development company filed a bid with the U.S. Bankruptcy Court for the District of Delaware on Tuesday seeking approval of the agreement and claiming it represents a “fair and equitable result” for its estates.

Pacific Energy unit Pacific Energy Alaska Operating LLC entered...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.