Colville River unit expansion depends on agreement over stipulations
As a point of clarification for the news bulletin which Petroleum News issued yesterday regarding an Alaska Department of Natural Resources decision on the expansion of the Colville River unit - the decision did not actually approve the unit expansion but set DNR's stipulations for approval. DNR has said that it will approve the expansion if ConocoPhillips, the field operator, agrees to DNR's stipulations by Aug. 14. The stipulations include drilling commitments and potential lease bonus bid replacement payments if ConocoPhillips moves ahead with drilling and development.
- ALAN BAILEY
See story in Aug. 13 issue, available online Friday, Aug. 11, at www.PetroleumNews.com