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Vol. 17, No. 39 Week of September 23, 2012
Providing coverage of Alaska and northern Canada's oil and gas industry


Rig to be offered at foreclosure sale

The rig belongs to Naknek Electric Association, a small Alaska co-op that found mainly trouble with geothermal drilling effort

Wesley Loy

For Petroleum News

A U.S. Bankruptcy Court judge has approved a foreclosure sale for a drilling rig used in a failed geothermal exploration effort in Southwest Alaska. The rig belongs to Naknek Electric Association, which was forced to file for Chapter 11 bankruptcy protection from creditors in September 2010. The sma....

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How sale will work

Rig resale expected


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