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...
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