BP, Exxon, Others Settle Lease Dispute With Alaska

By Lana Birbrair (March 30, 2012, 8:33 PM EDT) -- The state of Alaska has reached a settlement with ExxonMobil Corp. and other leaseholders in the Point Thomson oil and gas field on Alaska's North Slope and a deal to work with the companies on a project to export gas from the North Slope, the governor announced Friday.

The settlement resolves a seven-year battle over the Alaska Department of Natural Resources' decision to terminate leases held by ExxonMobil, ConocoPhillips Alaska Inc., Chevron USA Inc., BP Exploration (Alaska) Inc. and Leede Operating Co. LLC after they failed to develop Point Thomson, the state's largest undeveloped oil and gas field, for over 25...

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