Burlington Resources drops Alaska leasesWith a gas pipeline from the North Slope years away, company declines to pay third year’s rent on Foothills leases it won in 2001 areawide sale Kay Cashman & Kristen Nelson Petroleum News
Burlington Resources has dropped the 32 leases it took in Alaska’s first areawide North Slope Foothills lease sale in May of 2001.
Pat Galvin, Alaska Division of Oil and Gas petroleum land manager, told Petroleum News that an annual rent payment of $367,002 was due on the leases July 1.
“When we d....
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Company paid $1.99 million for leases Company had looked at leases as low-risk opportunity
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