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Vol. 14, No. 1 Week of January 04, 2009
Providing coverage of Alaska and northern Canada's oil and gas industry


Pacific Energy gets some breathing room

Company gets forbearance until February on several defaulted loans; considering options for possible sale, merger or refinancing

Eric Lidji

Petroleum News

Pacific Energy has been given a brief reprieve on its loans, the company said on Dec. 29. The California-based independent oil company with significant acreage in Alaska said its lenders have agreed not to act on several defaulted loans until at least Feb. 2, 2009. Pacific Energy hopes to use the ti....

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State worried about funds


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